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Free AccessGreenback Weakness Drags NDFs Lower
Onshore Indonesian markets are closed through the end of the week, owing to Hari Raya Aidilfitri holidays. USD/IDR 1-month NDF last sits -63 figs at IDR14,319 amid a broad-based greenback depreciation seen in Asia-Pac hours.
- The contract started on a softer footing. Despite gradually chewing into those initial losses, it fell short of reclaiming the previous close and faltered again.
- Bears look for a dip through May 7 low of IDR14,133, which would bring Feb 25 low of IDR14,080 into view. On the topside, focus falls on yesterday's high of IDR14,387 and a break here would allow bulls to set their sights on the 200-DMA at IDR14,454.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.