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FinMin Flags Positive Impact Of Consumption & Base Effect On GDP, BI Decision Up Today

IDR

Spot USD/IDR has shed 23 figs and last trades at IDR14,332. Bears look for a continued slide through the 100-DMA at IDR14,258, towards May 10 low of IDR14,145. Conversely, a jump above the 200-DMA/May 20 high at IDR14,390/14,400 would allow bulls to set their sights on the 50-DMA at IDR14,441.

  • USD/IDR 1-month NDF last seen at IDR14,370, virtually unch. on the day. A breach of the 100-DMA at IDR14,346 would expose May 7 cycle low of IDR14,133. On the topside, focus falls on May 20 high of IDR14,475 and a break here would draw attention to the 50-DMA at IDR14,494.
  • FinMin Indrawati told lawmakers Monday that a recovery in consumption & low-base effect will support Q2 GDP reading. She added that budget deficit reached 0.38% of GDP or IDR138.1tn at the end of Apr.
  • Bank Indonesia are set to deliver their monetary policy decision today. Virtually all analysts expect the MPC to hold steady. Click here to see our preview of the decision.
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