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Rupiah Goes Offered Amid Omicron Worry

IDR

Spot USD/IDR leapt higher today, piercing resistance from Nov 5 high of IDR14,390, and printed a fresh three-month high of IDR14,406. The rate last trades at IDR14,403, 25 figs above neutral levels.

  • USD/IDR 1-month NDF last seen +14 figs at IDR14,469. A break above IDR14,522, which limited gains on Aug 26 & 27, would bring Aug 19 high of IDR14,573 into view. Bears eye Nov 30 low of IDR14,328 for initial support.
  • Indonesia has extended the mandatory quarantine period for all inbound travellers to 10 days from 7. The new rule takes effect today, as the gov't seeks to protect the nation against the Omicron coronavirus variant.
  • Indonesia's official consumer confidence gauge will be released next Wednesday.

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