Free Trial
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.
IDR
Spot USD/IDR last changes hands -48 figs at IDR14,485, with local focus falling on the dire Covid-19 situation in Indonesia. The country added a record 27,913 new cases on Saturday, including ~10,000 in Jakarta, with the daily death toll reaching all-time highs on Sunday.
- Indonesia ramped up efforts to contain the spread of Covid-19 after a record 555 positive cases died on a single day. The gov't tightened border controls and ordered that all production of industrial oxygen production is converted to pharmaceutical oxygen. The gov't has also intensified efforts to waive Covid-related IP rights at the WTO, which would allow countries like Indonesia to manufacture mRNA Covid-19 vaccines. Meanwhile, the emergency measures in Java & Bali have fully taken effect, but the authorities still expect daily cases to keep rising for the "critical period" of two weeks.
- Danareksa Consumer Confidence Index is expected to hit the wires at some point this week, with the official counterpart coming up on Thursday.
- Bears look for a dip through Jun 28 low of IDR14,415, which would clear the way to the 50-DMA, which kicks in at IDR14,368. Bulls need a move through Jul 2 high of IDR14,568, which would open up IDR14,633-14,635, which capped gains on Apr 13 - 15.
- USD/IDR 1-month NDF last seen +7 figs at IDR14,532. A break above Jun 29 high of IDR14,666 would bring Apr 13 high of IDR14,736 into play. Bears would be pleased by a slide through Jun 18 low of IDR14,438.
Fig. 1: Indonesia Confirmed Daily Covid-19 Cases
Source: MNI - Market News/Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok