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Rupiah Appreciates After A Day Off

IDR

Spot USD/IDR dived back under its 200-DMA as onshore rupiah trade re-opened after a public holiday, with the rate catching up with the recent greenback weakness.

  • Reuters reported that Indonesia's new sovereign wealth fund is looking into investments in dozens of projects, including toll road concessions worth $2.6bn.
  • Indonesia's Finance Ministry holds a briefing on micro credit for the housing sector today.
  • The rate last sits -36 at IDR14,370, paring its earlier losses. The rate is narrowing in on the 200-DMA at IDR14,378 and a clean break here would open up Mar 9 high of IDR14,463. Conversely, a fall through Mar 2 high/23.6% retracement of the Feb 16 - Mar 9 rally at IDR14,330/14,324 would open up Mar 3 low/38.2% Fibo level at IDR14,243/14,238.
  • Bank Indonesia will deliver their monetary policy decision next Thursday. On the data front, local trade report comes out on Monday.

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