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Rupiah Is Firmer After Widodo Announces Looser Restrictions In More Areas

IDR

Spot USD/IDR has shed 30 figs thus far and last trades at IDR14,340. Bears need a drop below IDR14,305, which limited losses on Aug 4, before targeting the 200-DMA at IDR14,286. Bulls need a jump above Aug 27 high of DR14,445 before taking aim at Aug 20 high of IDR14,473.

  • USD/IDR 1-month NDF last at IDR14,376, 8 figures better off. Topside focus falls on IDR14,522, which capped gains on Aug 26 & 27. Meanwhile, bears look to a move through the 200-DMA at IDR14,358 towards Aug 4 low of IDR14,323.
  • Pres Widodo announced an extension to Covid-19 restrictions through Sep 6, while loosening curbs in some localities, after the daily nationwide case count fell to the lowest point since Jun 3.
  • Indonesia's Markit M'fing PMI will be released tomorrow, just hours ahead of the monthly CPI report. Last Friday, Bank Indonesia estimated August CPI to be +1.57% Y/Y based on their weekly survey.

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