Rupiah Holds Firm

Spot USD/IDR has shed 20 figs today to last change hands at IDR14,978, as the greenback gives away some of Wednesday's gains. Bears need a sell-off past Jun 27/21 lows of IDR14,794/14,784 to get some reprieve after the recent advance. Bulls look to a push through yesterday's high of IDR15,024 towards May 5, 2020 high of IDR15,138.

• USD/IDR 1-month NDF last -38 figs at IDR14,980. Downside focus falls on Jun 27 low of IDR14,788, while bulls keep an eye on Jul 5 high of IDR15,084.
• MYR/IDR has retreated and last sits -8 figs at IDR3,383. A fall through the 100-DMA at IDR3,369 is needed to clear the way to Jun 27 low of IDR3,358. Bulls look for a break above Jul 1 high of 3,399, followed by Apr 15 high of IDR3,408.
• SGD/IDR deals at IDR10,677, down 10 figs on the day. Losses past Jun 23 low of IDR10,652 would give bears a green light for targeting Jun 13 low of IDR10,454. Bulls need a move through Jul 1 high of IDR10,754 to find poise.
• Reminder that Indonesia hosts a summit of G20 Foreign Ministers today.
• Indonesia's official consumer confidence gauge is expected to hit the wires tomorrow.