Indonesia Locks Down Java And Bali

Spot USD/IDR has added 48 figs thus far and last changes hands at IDR14,550, testing resistance from Apr 23/Jul 1 highs. A clearance of this key level would open up IDR14,633-14,635, which capped gains on Apr 13 - 15. Bears look for a dip through Jun 28 low of IDR14,415, towards the 50-DMA at IDR14,370.

• USD/IDR 1-month NDF now unch. at IDR14,647, with bulls looking for gains past Jun 29 high of IDR14,666, towards Apr 13 high of IDR14,736. Bears look for a fall through Jun 29 low of IDR14,472, which would expose Jun 18 low of IDR14,438.
• Indonesia unveiled a slew of new restrictions for Java and Bali, which will take effect for two weeks starting tomorrow (i.e. Jul 3 - 20). All non-essential workers have been told to work from home, while most essential sectors will operate at 50% capacity. The reopening of Bali to foreign visitors will be delayed, while all large social gathering will be banned. Elsewhere, Health Min Sadikin pledged to expand the vaccination campaign and increase hospital bed capacity, with bed occupancy rate topping 90% in Jakarta, Banten or West Java.
• Bank Indonesia holds a media briefing on lending interest today, while the Finance Ministry will update the media on the gov't's investment role.
• On the data front, focus moves to consumer confidence, due next Friday. An alternative gauge of consumer sentiment from the Danareksa Research Institute should also hit the wires over the next week.