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Earthquake Kills 8 In Java, USD/IDR Extends Gains

IDR

Spot USD/IDR re-opened at a new five-month high today, before easing off there. It currently trades +10 at IDR14,575.

  • Late doors on Friday, Bank Indonesia said they see CPI at +1.37% Y/Y in the first two weeks of Apr, with inflation driven by certain food commodities.
  • A magnitude 6.0 earthquake hit Java over the weekend, killing 8 people, hurting dozens more and damaging 1,300 buildings. The event did not create a tsunami risk.
  • PT Bio Farma Pres Basyir suggested that the private sector has secured 40mn doses of Covid-19 vaccines from China and Russia, with deliveries expected later this month.
  • A move through Oct 23 high of IDR14,708 would open up Oct 6 high of IDR14,753. Meanwhile, losses past Apr 7 low of IDR14,470 would expose Mar 29 low/200-DMA at IDR14,410/14,384.
  • On the data front, retail sales survey is expected today, while trade balance comes out this Thursday.
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