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CPI Takes Focus

IDR

Spot USD/IDR sits -5 figs at IDR14,363, with bears setting their sights on Feb 16 low of IDR14,253. Bulls need a jump above Feb 24 high of IDR14,387 before taking aim at IDR14,408, which capped gains on Feb 7.

  • USD/IDR 1-month NDF last seen -26 figs at IDR14,375. Bears look for sales past Feb 15 low of IDR14,255, while bulls would be pleased by gains past Feb 24/Dec 21 highs of IDR14,506/14,522.
  • Indonesia's manufacturing sector grew at a slower rate in February, the latest IHS Markit PMI survey suggested. Headline index fell to 51.2 from 53.7 amid the resurgence of Covid-19, with business confidence falling to a 21-month low.
  • Local CPI figures will hit the wires later today. The consensus view is that inflation registered at +2.20% Y/Y in February after printing at +2.18% in January.

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