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Rupiah Stable, Headline Flow In Focus

IDR

Spot USD/IDR changes hands at IDR14,425, little changed on the day and happy to hold a familiar range. A break above Mar 19 high of IDR14,470 would clear the way to the upper 2.0% Bollinger band at IDR14,494. Bears need a fall through the 200-DMA at IDR14,360 before targeting Mar 8 low of IDR14,335.

  • The World Bank maintained its forecast for Indonesian GDP growth this year at +4.4% Y/Y.
  • The eruption of Mout Merapi prompted officials to issue a formal warning on Saturday, with nearby communities advised to refrain from mining and tourism.
  • Antara reported that a refinery owned by Indonesia's state energy holding company Pertamina caught fire after an explosion this morning, injuring 20 people.
  • Health Min Sadikin said that AstraZeneca has delayed the Mar-Apr delivery of Covid-19 vaccines and Indonesia seeks additional supply. The delayed delivery of Covax jabs is expected around May.
  • The Indonesian gov't is expected to review its policy on the travel ban for foreigners today.
  • Markit M'fing PMI & CPI report are due Thursday. Danareksa Consumer Confidence also comes out this week, but there is no fixed time of the release.

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