Free Trial

Jakarta Reimposes Restrictions

DOLLAR-IDR

USD/IDR has added 40 pips and trades at IDR14,930. A break above the nearby Sep 11 high of IDR14,950 would open up the IDR15,000 mark, followed by May 5 high of IDR15,138. Meanwhile, a retreat under Sep 4 & 7 lows of IDR14,705 would encourage bears to target the 50-DMA at IDR14,634.

  • Jakarta's tighter social restrictions take effect today and will remain in place for two weeks. The capital's governor said that residents diagnosed with Covid-19 will be quarantined in special isolation facilities rather than at homes.
  • Bank Indonesia is set to deliver its latest monetary policy decision on Thursday. All but one analyst surveyed by BBG see the main policy rate unchanged at 4.00%, with the lone dissenter looking for a 25bp cut. The announcement will be closely scrutinised for Bank Indonesia's stance on controversial legislative proposals that would undermine its autonomy.
  • Indonesia will publish trade data for the month of August tomorrow.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.