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Quiet Morning In Indonesia

IDR

Spot USD/IDR re-opened on a marginally softer footing and last sits at IDR14,273, 23 figures worse off on the day. There has been little in the way of local news flow to rock the boat. A slide through Jun 2 low of IDR14,253 would bring May 10 cycle low of IDR14,145 into view. Topside focus falls on Friday's high of IDR14,322, located ahead of the 200-DMA/May 20 high at IDR14,380/14,400.

  • USD/IDR 1-month NDF last seen +6 figures at IDR14,296. A break below IDR14,257, which limited losses on Jun 1, would give bears a green light for targeting May 7 low of IDR14,133. Conversely, a jump above May 28 high of IDR14,381 would turn focus to May 20 high of IDR14,475.
  • Bank Indonesia will release the monthly update on foreign reserves tomorrow, with official consumer confidence data coming up Wednesday. Danareksa's consumer sentiment gauge is expected at some point this week.

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