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Rupiah Resilient Despite Domestic Covid Worry

IDR

Spot USD/IDR has erased yesterday's gain and now sits -35 figs at IDR14,358. Further losses past the 50-DMA at IDR14,299 would give bears a green light for targeting IDR14,253, which provided support on Dec 31 & Jan 3. Bulls look to a jump above yesterday's/Dec 21 highs of IDR14,399/14,400 before taking aim at Dec 6 high of IDR14,447.

  • USD/IDR 1-month NDF last seen -35 figs at IDR14,386. Initial downside focus falls on the 50-DMA at IDR14,340. Meanwhile, a rebound above yesterday's high of IDR14,470 would encourage bulls to take aim at Dec 21 high of IDR14,522.
  • Indonesia's daily Covid-19 caseload hit the highest level in two months on Thursday, as the nation reported 533 infections. The government had earlier said that it could tighten restrictions if daily cases reach the thresholds of 500 and 1,000.
  • The Financial Services Authority said it will extend its stimulus measures, which involve non-bank loan restructuring, through Apr 17, 2023.
  • Danareksa Consumer Confidence should hit the wires at some point today, with Bank Indonesia's gauge of consumer sentiment coming up Monday.
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