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Daily Covid Case Count Continues To Shrink

IDR

Spot USD/IDR trades +42 figs at IDR14,244 as we type, after the rupiah reopened on a softer footing alongside most of its regional peers. The 200-DMA, which intersects at IDR14,285, provides the initial layer of resistance and a break here would open up Aug 31 high of IDR14,345. Meanwhile, a fall through Sep 10 low of IDR14,203 would bring Sep 7 low of IDR14,182 into play.

  • USD/IDR 1-month NDF last +11 figs at IDR14,299. Bulls set their sights on IDR14,340, which capped gains on Sep 8 & 9, while bears look to a retreat under Sep 7/Jun 11 lows of IDR14,201/14,198.
  • Indonesia's Covid-19 situation continues to improve. Officials reported just 3,779 new cases on Sunday, fewest since May 16. The number of deaths was 188, fewest since Jun 15.
  • Bank Indonesia said they see CPI register at +1.65% Y/Y this month, based on their survey as of the second week of the month.
  • The latest trade data headline the local docket this week, will hit the wires on Wednesday.
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