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Jokowi Calls For Further Restrictions As Virus Spreads Outside Of Java & Bali

IDR

Spot USD/IDR has added 33 figs and last sits at IDR14,385, as post-NFP impetus has conspired against the rupiah with the looming spectre of fresh Covid-19 restrictions in Indonesia. Bulls look for a move through the 50-DMA at IDR14,403 and a break here would expose the 100-DMA at IDR14,421. Bears keep an eye on the 200-DMA/Aug 4 low at IDR14,306/14,305.

  • USD/IDR 1-month NDF last seen -5 figs at IDR14,434, despite opening on a firmer footing at IDR14,530. Bears look for a deeper pullback past the 200-DMA/Aug 4 low at IDR14,341/14,323. Bulls would be pleased by a rebound above Jul 28 high of IDR14,588, towards Jul 20 high of IDR14,676.
  • The government is expected to update the current restrictions amid a decline in Java's caseload and the coronavirus' spread into outer regions. On Saturday, the Cabinet released a video from their latest meeting, where it emerged that areas outside Java and Bali now account for more than half of new infections. President Widodo called for fresh mobility curbs for at least two weeks.
  • Indonesia's consumer confidence gauge from Badan Pusat Statistik Indonesia should hit the wires at some point today. Its counterpart from Danareksa Research Institute came out last Friday, the index fell to 62.1 in July from 81.4 prior.
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