Free Trial

Heading South




Breaches Key Short-Term Support


Late SOFR/Treasury Option Trade

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

Spot USD/IDR has lost ground in line with broader dollar weakening. The rate last changes hands -25 figs at IDR14,968. Downside technical focus falls on Jun 27/21 lows of IDR14,794/14,784. Conversely, bulls look for a bounce above Jul 6 high of IDR15,024.

  • USD/IDR 1-month NDF last seen -34 figs at IDR15,032. Bears keep an eye on Jul 8 low of IDR14,966, while bulls set their sights on Jul 15 cyclical high of IDR15,190.
  • MYR/IDR remains heavy, last deals at IDR3,366, down ~5 figs on the day. Further losses past Jun 27 low of IDR3,358 would shift bearish focus to the 50-DMA/broken neckline of double bottom pattern at IDR3,347/3,349. Bulls need a break above the IDR3,400 figure to regain the upper hand.
  • SGD/IDR last seen at IDR10,716, up ~40 figs on the day. The high print of Jul 14 at IDR10,763 provides the initial topside target. Bears look for a slide through Jul 12 low of IDR10,636.
  • Indonesia will remove its $200/ton palm oil export levy until the end of August as the government steps up efforts to boost shipments and drain surplus inventories. Producers risk having to leave their oil palm fruits to rot as storage tanks remain completely filled.
  • Bank Indonesia will announce the outcome of the latest monetary policy review this Thursday. The sell-side community is divided, but 18 out of 25 economists polled by Bloomberg expect no change to the 7-Day Reverse Repo Rate. The rest forecast a 25bp hike, which would be the first one since November 2018.
  • Indonesia's central bank is one of the last dovish bastions in the region that have kept interest rates unchanged. Bank Indonesia has relied on gradual liquidity withdrawal so far. But pressure to raise the key policy rate keeps piling, after last week's off-cycle policy adjustments announced by colleagues from the Philippines and Singapore.

To read the full story

Why Subscribe to

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.