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Spot USD/IDR has added 28 figs thus far and last trades at IDR14,513, holding a familiar range. The move higher seems driven by broader USD strength.
- Bulls look to take out Apr 23 high of IDR14,550 before targeting the IDR14,633-14,635 area, which capped gains on Apr 13-15. Bears need a slide through Apr 26 low of IDR14,478 before taking aim at Apr 7 low of IDR14,470.
- Little to pen on notable domestic developments, headline flow has been sparse this morning. Kompas cited State Sec Pratikno as noting that the new Investment Ministry will not replace the Indonesia Investment Coordinating Board and Bahlil Lahadia will remain at the helm of the agency.
- FinMin Indrawati appears alongside SOE Min Thohir to discus reforms within state firms today, while Indonesian Palm Oil Association will provide an update to the media.
- The Indonesian economic docket is virtually empty today.