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Rupiah Consolidates In Quiet Trade

IDR

Spot USD/IDR holds yesterday's range, last trades +10 figs at IDR14,437. The 50-DMA has broken above the 100-DMA, sending a bullish signal. Topside focus falls on Mar 19 high of IDR14,470 and a break here would open up the upper 2.0% Bollinger band at IDR14,500. Bears look for a slide through the 200-DMA at IDR14,360, towards Mar 12 low of IDR14,340.

  • Indonesia and Singapore agreed to launch a pilot project on re-opening their borders for tourism.
  • Indonesia's banking loans fell 2.15% Y/Y in Feb, according to the latest update from the FSA.
  • Looking ahead, focus turns to Markit M''fing PMI & CPI, due Thursday, as well as Danareksa Consumer Confidence, due at some point next week.

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