Rupiah Strengthens A Tad Amid Thin Local News Flow

Spot USD/IDR trades on a weaker note today, holding a tight range after a softer re-open. The rate last changes hands -28 figs at IDR14,498.

• The ASEAN summit held over the weekend brought no game-changers. Indonesia pushed for a Myanmar-led dialogue on the ongoing political crisis in that country and joined Vietnam in calling for the resumption of bilateral negotiations on the delineation of the border between their EEZs.
• Local headline flow has been dominated by the news that Indonesia has found the wreckage of a missing submarine and declared all of the crew members dead.
• Indonesia's Investment Coordination Board holds a press briefing on investment in the first quarter at 11:00 local time. Elsewhere, Econ Min Hartarto will attend a CNBC new energy conference.
• A break below IDR14,483, which limited losses on Apr 20, would give bears a green light for targeting Apr 7 low of IDR14,470. Bulls look for a jump above Apr 23 high of IDR14,550 before taking aim at the IDR14,633-35, which capped gains on Apr 13-15.