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Rupiah Falters, Indonesia Keeps Broad Coal Exports Ban

IDR

Spot USD/IDR has added 22 figs thus far, last changes hands at IDR14,317. Bulls need a clearance of Jan 6/Dec 21 highs of IDR14,399/14,400 before targeting Dec 6 cycle high of IDR14,447. Conversely, a pullback under Jan 11 low of IDR14,285 would bring the 100-DMA at IDR14,267 into play.

  • USD/IDR 1-month NDF last seen +18 figs at IDR14,337. Topside focus falls on Jan 6 high of IDR14,470, while bears would be pleased by a slide through Dec 30 low of IDR14,126.
  • Indonesia confirmed that it will keep a wider ban on coal exports in January, despite granting exemptions to a handful of vessels.
  • Danareksa Consumer Confidence could hit the wires as soon as today, while next week focus will turn to trade balance (Monday) & Bank Indonesia MonPol decision (Thursday).
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