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Bank Indonesia's Meeting Begins, Policy Decision Due Tomorrow

IDR

Spot USD/IDR trades at IDR14,359, little changed on the day & happy to hug Friday's range. A break above the 200-DMA/May 20 high at IDR14,392/14,400 would bring the 50-DMA at IDR14,443 into view. Conversely, a move through May 18 low/100-DMA at 14,273/IDR14,257 would turn focus to May 10 cycle low of Y14,145.

  • USD/IDR 1-month NDF last -14 figs at IDR14,393. A breach of the 100-DMA at IDR14,341 would draw attention to May 18 low of IDR14,295. On the topside, a break above May 20 high of IDR14,475 would open up the 50-DMA at IDR14,497.
  • Bank Indonesia said Friday that its third week survey suggested that CPI may come in at +1.69% Y/Y this month.
  • Bank Indonesia begin their policy meeting, with decision announcement coming up tomorrow. The MPC are widely expected to leave their benchmark interest rate unchanged for the fourth straight time.
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