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Losing Ground

IDR

Spot USD/IDR has added 25 figs so far, despite the absence of notable domestic catalysts, and last changes hands at IDR14,283. Bulls need a break above Feb 11 high of IDR14,368 before taking aim at Feb 7 high of IDR14,408. Conversely, a dip through Feb 16 low of IDR14,253 would give bears a green light for targeting Dec 24 low of IDR14,187.

  • USD/IDR 1-month NDF last +22 figs at IDR14,300. Bulls keep an eye on Feb 7 high of IDR14,461, with bears looking for a pullback through Feb 15 low of IDR14,255 towards Dec 30 low of IDR14,126.
  • FinMin Indrawati said Wednesday that the economy is expected to remain on recovery path next year and may expand +5.3%-5.9% Y/Y, outpacing recent growth.
  • Looking ahead, quarterly BoP current account balance will hit the wires on Friday. Analysts expect that Indonesia's current account balance has flipped into a surplus in 4Q2021, according to a Bloomberg survey.
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