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FinMin Indrawati To Speak On Budget, Some Regional Leaders Call For Stricter Covid Curbs

IDR

Spot USD/IDR has extended last week's gains, piercing resistance from May 20 high of IDR14,400 and thus completing a double bottom formation. The rate last sits +43 figs at IDR14,418, with bulls looking for further gains past May 3 high of IDR14,475. Bears keep an eye on the aforementioned May 20 high/50-DMA at IDR14,400/14,388. A break here would expose the 200-DMA at IDR14,359.

  • USD/IDR 1-month NDF last sits -19 figs at IDR14,534. Bears look for a dip through Friday's low of IDR14,438, while bulls would be pleased by a rally past Apr 21 high of IDR14,615.
  • Some of Indonesia's regional leaders have voiced an opinion that stricter Covid-19 measures are needed. Yogyakarta Gov & Sultan Hamengkubuwono X said that the provincial administration was mulling implementing a full lockdown.
  • Indonesian FinMin Indrawati will hold a briefing on the 2021 State Budget today at 15:30 local time. There are no scheduled data releases of note on the Indonesian docket this week.

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