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Rupiah Advances, Indonesia Allows Some Coal Shipments

IDR

Spot USD/IDR has ebbed lower and now changes hands -20 figs at IDR14,288. Further losses past the 100-DMA at IDR14,270 would encourage bears to take aim at Dec 24 low of IDR14,187. Meanwhile, bulls need to reclaim Jan 6/Dec 21 highs of IDR14,399/14,400 before targeting Dec 6 high of IDR14,447.

  • USD/IDR 1-month NDF last seen -6 figs at IDR14,309. Bears keep an eye on Dec 30 low of IDR14,126, while bulls look to a break above Jan 6 high of IDR14,470.
  • Indonesia said Monday it is letting 14 vessels fully loaded with coal already paid for by buyers to set sail. The government will decide Wednesday on whether to fully lift its ban on coal exports amid pressure from a number of foreign buyers to resume shipments.
  • Bank Indonesia said that the retail sales index rose 8.9% Y/Y in Dec, led by automotive fuels.
  • The Danareksa Research Institute are expected to release their consumer confidence gauge today. Bank Indonesia's index was little changed in December.
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