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Rupiah Gains After Inflation Quickens To Fastest Pace In More Than Four Years

IDR

Spot USD/IDR has pulled back from a new cycle high of IDR14,565 and last deals -10 figs at IDR14,548, with bears looking for further sales past Apr 26 low of IDR14,398. Bulls look for a rally above Jul 2, 2021 high of IDR14,568.

  • USD/IDR 1-month NDF last -27 figs at IDR14,603. Bears look for a slide through May 5 low of IDR14,426, while bulls would be pleased by a breach of Jul 20, 2021 high of IDR14,676.
  • Indonesia's GDP expanded 5.01% Y/Y in the three months through the end of March, falling broadly in line with expectations. Inflation quickened to +3.47% Y/Y in April, beating the median estimate of +3.32%. Core inflation, closely watched by Bank Indonesia, accelerated to +2.60% Y/Y, as expected.
  • Indonesia's consumer confidence data are expected to hit the wires later this week.
  • Indonesian President Widodo is heading to Washington DC for a special ASEAN-U.S. summit.
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Spot USD/IDR has pulled back from a new cycle high of IDR14,565 and last deals -10 figs at IDR14,548, with bears looking for further sales past Apr 26 low of IDR14,398. Bulls look for a rally above Jul 2, 2021 high of IDR14,568.

  • USD/IDR 1-month NDF last -27 figs at IDR14,603. Bears look for a slide through May 5 low of IDR14,426, while bulls would be pleased by a breach of Jul 20, 2021 high of IDR14,676.
  • Indonesia's GDP expanded 5.01% Y/Y in the three months through the end of March, falling broadly in line with expectations. Inflation quickened to +3.47% Y/Y in April, beating the median estimate of +3.32%. Core inflation, closely watched by Bank Indonesia, accelerated to +2.60% Y/Y, as expected.
  • Indonesia's consumer confidence data are expected to hit the wires later this week.
  • Indonesian President Widodo is heading to Washington DC for a special ASEAN-U.S. summit.