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Rupiah Softer On Omicron Worry, Moody's Comments On Rating Risks

IDR

Spot USD/IDR has added 28 figs so far and last changes hands at IDR14,371, after printing a fresh one-month high. A break above the nearby Nov 5 high of IDR14,390 would allow bulls to target Aug 27 high of IDR14,445. Conversely, a fall through Nov 30 low of IDR14,293 would open up Nov 19 low of IDR14,210.

  • USD/IDR 1-month NDF last seen -13 figs at IDR14,420. Bears see Nov 30 low of IDR14,328 as their initial target, while bulls look to a move through Nov 26 high of IDR14,496.
  • Indonesia extended the mandatory self-isolation period for inbound travellers to 10 days from 7 and banned almost all foreign travel by gov't officials.
  • Worth flagging that Moody's said yesterday that the key credit rating downgrade triggers for Indonesia are a prolonged slowdown in growth and problems with fiscal consolidation.
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