Government To Decide On Coal Export Ban

Spot USD/IDR trades -5 figs at IDR14,298. The rate re-opened on a softer footing but failed to penetrate yesterday's trough and has already clawed back the bulk of initial losses. Bears look for a resumption of the earlier downswing and a fall through Dec 31 low of IDR14,253 would bring Dec 24 low of IDR14,187 into view. Bulls need a jump above Jan 6/Dec 21 highs of IDR14,399/14,400 before taking aim at Dec 6 high of IDR14,447.

• USD/IDR 1-month NDF last seen +11 figs at IDR14,324. Topside focus falls on Jan 6 high of IDR14,470, while bears keep an eye on the IDR14,300 mark, which has limited losses this week. Below there opens Dec 30 low of IDR14,126.
• The government are yet to announce their decision on whether to broadly resume coal exports. They had allowed 14 fully loaded coal vessels to set sail earlier this week and noted that they would review the existing ban on shipments as soon as today.