Free Trial
USDCAD TECHS

Impulsive Rally Extends

US TSYS

Late Eurodollar/SOFR/Treasury Option Roundup

EURJPY TECHS

Price Is Below The 50-Day EMA

US

Late Corporate Credit Update

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Rupiah Gains Amid Risk-On Flows Inspired By U.S. CPI

IDR

Spot USD/IDR dropped to its lowest point since late June as the rupiah's traditional risk-sensitivity helps it become the second best performer in the Asia EM basket (trailing only another risk proxy KRW). Local players reacted to overnight greenback sales driven by below-forecast U.S. CPI data. The pair last changes hands -59 figs at IDR14,814, with bears looking for a deeper retreat under Jun 21 low of IDR14,784. Conversely, bulls need a bounce above Aug 4 high of IDR14,939 for some initial reassurance.

  • USD/IDR 1-month NDF last +27 figs at IDR14,814. Topside focus falls on Aug 5 high of IDR14,990, while bears keep an eye on the 100-DMA, which kicks in at IDR14,688.
  • Palm oil futures have extended gains this morning. The contract for October delivery has added MYR101/MT and last trades at MYR4,214/MT.
  • Indonesia's palm oil inventories fell to 6.68mn tons in June from 7.23mn in May as exports soared +244% M/M after the ban on shipments was lifted in late May.
  • FinMin Indrawati will hold a briefing on the state budget this afternoon. Separately, comments are expected from Economic Affairs Min Hartarto and Industry Min Kartasasmita.
184 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Spot USD/IDR dropped to its lowest point since late June as the rupiah's traditional risk-sensitivity helps it become the second best performer in the Asia EM basket (trailing only another risk proxy KRW). Local players reacted to overnight greenback sales driven by below-forecast U.S. CPI data. The pair last changes hands -59 figs at IDR14,814, with bears looking for a deeper retreat under Jun 21 low of IDR14,784. Conversely, bulls need a bounce above Aug 4 high of IDR14,939 for some initial reassurance.

  • USD/IDR 1-month NDF last +27 figs at IDR14,814. Topside focus falls on Aug 5 high of IDR14,990, while bears keep an eye on the 100-DMA, which kicks in at IDR14,688.
  • Palm oil futures have extended gains this morning. The contract for October delivery has added MYR101/MT and last trades at MYR4,214/MT.
  • Indonesia's palm oil inventories fell to 6.68mn tons in June from 7.23mn in May as exports soared +244% M/M after the ban on shipments was lifted in late May.
  • FinMin Indrawati will hold a briefing on the state budget this afternoon. Separately, comments are expected from Economic Affairs Min Hartarto and Industry Min Kartasasmita.