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Rupiah Steady Despite Rising Covid-19 Cases

IDR

Spot USD/IDR has eased off and last changes hands at IDR14,338, down 15 figs on the day. Bears look for a fall through the 50-DMA/Feb 2 low at IDR14,334/27, followed by Jan 24 low of IDR14,307. Bulls need a jump above Feb 7 high of IDR14,408 before targeting Jan 31 high of IDR14,420.

  • USD/IDR 1-month NDF last +5 figs at IDR14,344. Topside focus falls on Feb 7 high of IDR14,461, while bears look to a fall through Jan 13 low of IDR14,292.
  • Indonesia's daily Covid-19 cases are approaching record highs, but daily fatalities remain way below last year's peak.
  • There have been no headlines trickling through from BI Gov Warjiyo's speech, with Dep Gov Waluyo due to speak in the afternoon.
  • Focus turns to Indonesia's trade balance (Tuesday) and BoP current account balance (Friday).
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