DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Rupiah Slips, Catching Up With Overnight Greenback Strength

IDR

Spot USD/IDR has added 23 figs thus far, broadly in line with the move in the U.S. dollar since the end of play on Tuesday. The rate last deals at IDR15,020, with bulls setting their sights on Jul 22 high of IDR15,038. A break here would expose May 5, 2020 high of IDR15,138. Bears seek a retreat towards the 50-DMA, which intersects at IDR14,799.

  • USD/IDR 1-month NDF last +23 figs at IDR15,043. On the topside, the initial target is provided by Jul 21 high of IDR15,133, followed by Jul 15 high of IDR15,190. Conversely, bears look for a sell-off past IDR14,966, which limited losses on Jul 8 & 25.
  • MYR/IDR last sits at IDR3,366, up ~3 figs on the day. A break above the IDR3,400 mark is needed to reinstate the broader uptrend. On the flip side, bears keep an eye on the nearby 50-DMA, which kicks in at IDR3,352.
  • SGD/IDR deals at IDR10,808, down ~11 figs on the day. Bearish focus falls on the 50-DMA at IDR10,666, while bulls look to renewed gains past yesterday's high of IDR10,833.
  • Palm oil futures have extended losses from Tuesday's after-hours trade. The most active contract changes hands MYR69/MT lower on the day.
  • President Widodo wrapped up his China visit, when he formally invited Xi Jinping to the upcoming G20 summit in Bali. Jokowi will today visit Japan en route to South Korea.
  • FinMin Indrawati and Energy Min Tasrif are set to speak at a G20 side event today. Otherwise, the local economic docket is virtually non-existent.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.