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Rupiah Gains, Inflation Data Eyed This Week

IDR

Spot USD/IDR has faltered amid broad-based greenback weakness, with Indonesian headline flow offering little of real note. The pair last changes hands at IDR14,538, down 40 figs on the day, with bears looking for a dip through May 11 low of IDR14,525 before taking aim at the 50-DMA (IDR14,431). Bulls need a rebound above May 20 & 23 highs of IDR14,678 before targeting May 19 high of IDR14,738.

  • USD/IDR 1-month NDF last -12 figs at IDR14,527. Bears would be pleased by a slide through May 11 low of IDR14,516, while bulls look for a recovery above May 24 high of IDR14,708.
  • All eyes are on Indonesia's May CPI data, due for release on Thursday. Economists expect headline inflation to accelerate to +3.60% Y/Y from +3.47% recorded in April.

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