Free Trial

Death Cross

IDR

Spot USD/IDR has been treading water and last trades flat at IDR14,218. Sales past IDR14,203, which limited losses on Sep 10, Oct 8 & Oct 11, would allow bears to target Sep 7 low of IDR14,182. Worth mentioning that the formation of a death cross yesterday lends support to the bearish case. Conversely, a rally above the 50-DMA at IDR14,297 would allow bulls to breathe a sigh of relief.

  • USD/IDR 1-month NDF last seen -21 figs at IDR14,239. Bears look for a dip through Oct 8 low of IDR14,218 towards Sep 7/Jun 11 lows of IDR14,201/14,198. Meanwhile, the initial layer of resistance is provided by the 50-DMA at IDR14,348.
  • Indonesian monthly trade data will be published on Friday. Looking further afield, Bank Indonesia will deliver their monetary policy decision next Tuesday.
  • Pres Widodo is preparing for his European trip. On Oct 30-31 he will take part in a G20 summit and take over the reins of the group. From there, he will head to the UK for COP26 on Nov 1-2.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.