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Rupiah Holds Tight Range, Bank Indonesia Meet Next Week

IDR

Spot USD/IDR trades -5 figs at IDR14,378, sticking to a narrow range so far. A breach of Aug 4 low/200-DMA at IDR14,305/14,300 would be welcomed by bears and inspire hopes for a deeper sell-off. Bulls look for a move through the 50-DMA at IDR14,408, which would bring the 100-DMA at IDR14,420 into play.

  • USD/IDR 1-month NDF trades +14 figs at IDR14,412. Topside focus falls on Aug 11 high of IDR14,491, while the 200-DMA/Aug 4 low at IDR14,342/13,323 provide the initial layer of support.
  • Bank Indonesia will publish Q2 residential property price survey today. Looking further afield, Indonesian trade data will hit the wires next Wednesday, with Bank Indonesia set to deliver their monetary policy decision on Thursday.

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