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Bank Indonesia Keeping Eye On Price Pressures

IDR

Spot USD/IDR dropped this morning and last deals -10 figs at IDR14,344. Bears see Mar 30 low of IDR14,325 as their initial target and a break here would expose Mar 17 low of IDR14,275. On the flip side, a clearance of Mar 24 high of IDR14,380 would bring Mar 7/Jan 31 highs of IDR14,415/14420 into view.

  • USD/IDR 1-month NDF last seen +10 figs at IDR14,352. Topside focus falls on Mar 23 high of IDR14,396, while bears look for a dip through Mar 30 low of IDR14,329.
  • Investor Daily Indonesia reported, citing BI Gov Warjiyo, that the central bank is keeping an eye on inflationary pressures. The Governor attributed the quickening of price growth to higher domestic demand, but policymakers are also cautious on risks of rising global commodity prices.
  • Indonesian consumer confidence data are expected to hit the wires this week.
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