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Retakes Initial Losses

DOLLAR-IDR

Spot USD/IDR changes hands +15 pips at IDR14,793, having recouped losses registered at the re-open. For those who may have missed it, Indonesian Econ Min Hartarto said late on Thursday that the government is opposed to a proposal to undermine Bank Indonesia's independence by changing the composition of its board, but wants to keep the "burden sharing" scheme with the central bank in 2021.

  • The rate continues to flirt with its 100-DMA, which intersects at IDR14,739. A firm push through Sep 3 high of IDR14,820 would expose Aug 18 high of IDR14,875. Bears look for a fall through the 50-DMA at IDR14,559, towards Aug 31 low of IDR14,505.
  • Indonesia's consumer confidence index comes out on Tuesday.

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