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Spot USD/IDR has shed a handful of pips, happy to hug a narrow range this morning. The pair last deals -10 pips at IDR14,145.
- The FT cited Minister of Maritime Affairs & Investment Luhut Pandjaitan as noting that Indonesia will start a second round of raising funds for its sovereign wealth fund after securing $15.5bn in the first round. The fund could be launched in mid-Jan after last week's presidential approval for its final structure.
- Indonesian Coordinating Ministry for Economic Affairs noted that the gov't will continue to provide subsidised interest rate scheme for MSMEs for the next six months.
- Minister of National Planning Suharso Monoarfa said Monday that the gov't has finalised the draft legislation for the new capital and it will be discussed in parliament next year. The aim is to move the presidential office to the new city by 2024.
- Bears look for a dip through Dec 11 low of IDR14,080, which would bring Nov 10 low/round figure of IDR14,004/14,000 into view. Bulls look for a jump above the 23.6% retracement of the Sep 11 - Nov 10 slide/Dec 23 high at IDR14,227/14,232. A break here would expose the 50-DMA at IDR14,279.
- FinMin Indrawati's speech on Shariah-compliant business & BI's briefing on its new website shouldn't provide much interest.
- Looking ahead, Indonesia reports Markit M'fing PMI & CPI figures next Monday.