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Finance Ministry To Hold Briefing On 2021 State Budget

IDR

USD/IDR consolidates within the prior day's range after hitting best levels in six-weeks on Monday. The pair last operates at IDR14,113, barely changed on the day.

  • Bulls look for an extension of the recent winning streak. A break above Monday high of IDR14,130 would bode well for their cause, opening up Jan 12 high of IDR14,205. Bears need a pullback under the 50-DMA at IDR14,049, which would bring Feb 16 low of IDR13,873 into play.
  • Indonesia said it will set up a special task force to review amendments to the Internet law amid criticism that it has been used to silence opposition views.
  • Pres Widodo warned that local authorities should prepare for forest fires this year after the detection of hot spots in Sumatra.
  • Focus moves to a press briefing from Indonesian Finance Ministry on the 2021 state budget, scheduled for 13:00 local time.
  • The local data docket is virtually empty during the remainder of this week.

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