Indonesia To Tighten Border Measures

Spot USD/IDR has added 15 figs thus far and last trades at IDR14,500. A rally above Apr 23 high of IDR14,550 would mark the completion of a mini-double bottom pattern, which would bring the Apr 13-15 highs of IDR14,633-14,635 into view. On the flip side, a dip through Apr 7 low of IDR14,470 would open up the 200-DMA/Mar 29 low at IDR14,410/14,405.

• Worth keeping an eye on the ascending 50-DMA, which is narrowing in on the nearby 200-DMA, in what may soon end up as a golden cross.
• Health Min Sadikin announced that Indonesia will introduce tighter border measures in anticipation of the return of its migrant workers from abroad. Migrants typically return home for the Eid al-Fitr holidays in May.
• Indonesia's FDI in Q1 surged to IDR111.7tn, the highest level since 2017. Total investment reached IDR219.7tn, a new peak in the data series.
• China's Pres Xi agreed to boost supplies of the Sinovac jab to Indonesia by 10-15mn doses in Apr-May.
• Nothing much left on Indonesia's economic docket this week.