Spot USD/IDR has faltered and last deals -43 figs at IDR15,203, with bears looking for a deeper sell-off towards the 100-DMA, which kicks in at IDR14,862. Bulls need a clearance of Oct 4 high of IDR15,309 before targeting the 61.8% retracement of the 2020 slide at IDR15,574.
- USD/IDR 1-month NDF last +29 figs at IDR15,215, suggesting that the overhang pressure from after hours Tuesday has petered out. Topside focus falls on Oct 3 high of IDR15,394. Bears would be pleased by a dip through the 100-DMA at IDR14,882.
- Foreign investors bought a net $39.81mn in local stocks Tuesday, while the Jakarta Comp advanced, extending gains this morning.
- Palm oil futures have trimmed some of their gains registered in after-hour trade on Tuesday but still sit ~MYR85/MT above previous settlement. The aggregate BBG Commodity Index has slipped in Asia hours, moving away from yesterday's high.
- Indonesia's Health Min Sadikin said the government was starting discussion with the WHO about declaring an end to the COVID-19 pandemic and lifting all remaining restrictions.
- Danareksa Consumer Confidence is expected to hit the wires in the coming days.