Indonesian M'fing PMI Improves, Comments From BI's Warjiyo & FinMin Indrawati Eyed

Spot USD/IDR trades +10 pips at IDR14,535, after rallying to a fresh multi-month high of IDR14,570 yesterday.

• The pace of expansion in Indonesia's manufacturing sector accelerated in Mar per the latest Markit PMI survey, as headline index improved to 53.2 from 50.9. IHS Markit pointed to "firms ramping up production in response to the strongest influx of new orders in the decade-long survey so far," adding that "signs of pressure on capacity meant that employment stabilised in March, and if trends in workloads remain positive we can expect outright employment growth in the near future."
• BI Gov Warjiyo & FinMin Indrawati will speak in a webinar on investment and fiscal incentives hosted by Gadjah Mada University at 13:00 local time.
• A move through Oct 23 high of IDR14,708 would turn bullish focus to IDR14,753, which capped Oct 6, 7 & 14. Bears look for a fall through Mar 23 low of IDR14,395, before taking aim at Mar 18 low/200-DMA at IDR14,369/14,368.
• Indonesian CPI data is due later today. BBG consensus forecast is for the headline metric to print at +1.40% Y/Y, with estimates ranging between +1.30% and +1.50% (excluding one outlier of +2.50%).