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Officials' Rhetoric Takes Focus

IDR

Spot USD/IDR sits at IDR14,204, 9 figs lower on the day, with attention drawn to comments from Indonesia's top economic officials. Bears look for a fall through Oct 29 low of IDR14,150 towards Oct 18 low of IDR14,057. Bulls need a jump above Nov 11 high of IDR14,305, which would open up Nov 5 high of IDR14,390.

  • USD/IDR 1-month NDF last seen +10 figs at IDR14,230. Topside focus falls on Nov 11 high of IDR14,357, with downside attention at Oct 26 low of IDR14,148.
  • FinMin Indrawati, Econ Min Hartarto & BI Gov Warjiyo all speak at a webinar hosted by the Indonesian Stock Exchange today.
  • Indonesia sees 2021 budget deficit at 5.25% of GDP, according to FinMin Indrawati. Elsewhere, Econ Min Hartarto said Monday that the gov't has spend over 60% of its pandemic budget as of Nov 14.
  • Bank Indonesia are widely expected to leave their 7-Day Reverse Repo Rate unchanged at 3.50% at their monetary policy meeting this week. Their decision will be announced on Thursday.
  • Elsewhere, Q3 BoP current account balance is due for release on Friday.
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