Indonesia Studies Ways Of Boosting Investment

Spot USD/IDR trades flat at IDR14,450 as we type, after the rate charted a head & shoulders topping pattern yesterday, while forming a golden cross at the same time. This leaves participants looking for fresh technical catalysts, with bulls keeping an eye on the IDR14,470 neckline. A break here would bring Apr 23 high of IDR14,550 into view. Bears would be pleased by a slide through Mar 29 low of IDR14,410, towards Mar 18 low of IDR14,369.

• FinMin Indrawati said Thursday that the gov't plans to boost GDP growth to 6% this year through a mid-term structural reform, focusing on improving infrastructure and human capital as well as cutting red tape.
• A senior official with the Investment Coordinating Board said that the new omnibus job creation law allows the gov't to tailor incentives to companies planning to invest in Indonesia. Jakarta wants to offer benefits such as tax breaks or carbon offset to attract more FDI.
• Indonesian CPI & Markit M'fing PMI come out on Monday, with Q1 GDP due Wednesday. In addition, Danareksa Consumer Confidence will hit the wires at some point next week.