FinMin Indrawati "Optimistic" About Growth Prospects

Spot USD/IDR has trimmed its initial losses but is yet to close the opening gap. The rate last trades -15 figs at IDR15,550 after recovering from the session low of IDR14,500.

• The Business Times circulated an interview with FinMin Indrawati, who said that Indonesia's GDP growth can return to pre-pandemic levels as more people become inoculated against Covid-19. She said that the gov't remains optimistic and expects a 4.5-5.3% Y/Y growth this year.
• Indonesian Tourism Min suggested that foreign tourists could be allowed to enter several "green zones" by the end of July.
• A break above the IDR14,633-14,635 area, which capped gains on Apr 13 - 15, would revive the bullish case, drawing attention to Oct 6, 2020 high of IDR14,753. Bears look for a fall through Apr 7 low of IDR14,470 before taking aim at Mar 29 low/200-DMA at IDR14,410/14,396.
• There are no tier 1 local events scheduled for today. Director General of Oil and Gas will hold a briefing on 2021 programmes.
• Bank Indonesia are set to deliver their latest monetary policy decision tomorrow. There is a virtual unanimity among analysts that BI will hold interest rates unchanged. MNI State of Play is already out, with the our full preview forthcoming.