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Rupiah Beats Regional Peers On Positive Equity Dynamics

IDR

Spot USD/IDR deals at IDR15,593, down 40 figs on the day, with bears looking for a deeper retreat towards Oct 5/Sep 30 lows of IDR15,162/15,150. Bulls target the IDR16,000 figure.

  • USD/IDR 1-month NDF last +48 figs at IDR15,617. The IDR16,000 threshold provides the initial layer of resistance, while bears look for a dip towards Oct 5 low of IDR15,158.
  • Foreign investors were net buyers of $75.41mn last Friday, with the Jakarta Comp testing its 100-DMA to the upside. The index has extended gains today, in a clean breach of that moving average, and is approaching next resistance from the 50-DMA.
  • Palm oil futures are not trading in Kuala Lumpur owing to a local holiday. The aggregate BBG Commodity Index pared earlier gains and now operates in negative territory, just.
  • The local data docket is virtually empty during the remainder of the week.

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