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IDR: Rupiah Strengthens as USD Falls on Weak US Data. 

IDR
EM BulletBulletIndonesiaAPACEmerging Market News
  • USD/IDR is down at 16,148 in Jakarta morning; versus Friday’s close of 16,195.
  • The rupiah remains well above the 16,000 level where the BI intervened.  With the largest amount of FX reserves on record and a stated intention of ‘guarding the rupiah boldly’, it is anticipated that more intervention will come.
  • The recent weakness has dragged the 20-day EMA higher to 15,993.
  • Bloomberg Asia dollar spot index is up by +0.03% and the Bloomberg Dollar spot index is unchanged at the open having declined -0.53% on Friday.
  • USD/IDR one-month implied volatility is up this morning to 7.11%, versus 6.9775% for Friday’s close.
  • Indonesia's 10-year bond yield is at 7.06%.
  • Indonesia 5 yr USD CDS at 75bps (yesterday’s close 74bp, 5-year low 38bps in 2020).

Headlines

  • Indonesia claimed victory after Apple Inc. offered to increase its investment in the country to $1 billion to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. (source: BBG). 
  • Palm oil posted its biggest weekly fall since April last year on concerns over falling exports from the world’s second-biggest grower Malaysia and weaker soybean oil. (source: BBG)
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  • USD/IDR is down at 16,148 in Jakarta morning; versus Friday’s close of 16,195.
  • The rupiah remains well above the 16,000 level where the BI intervened.  With the largest amount of FX reserves on record and a stated intention of ‘guarding the rupiah boldly’, it is anticipated that more intervention will come.
  • The recent weakness has dragged the 20-day EMA higher to 15,993.
  • Bloomberg Asia dollar spot index is up by +0.03% and the Bloomberg Dollar spot index is unchanged at the open having declined -0.53% on Friday.
  • USD/IDR one-month implied volatility is up this morning to 7.11%, versus 6.9775% for Friday’s close.
  • Indonesia's 10-year bond yield is at 7.06%.
  • Indonesia 5 yr USD CDS at 75bps (yesterday’s close 74bp, 5-year low 38bps in 2020).

Headlines

  • Indonesia claimed victory after Apple Inc. offered to increase its investment in the country to $1 billion to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. (source: BBG). 
  • Palm oil posted its biggest weekly fall since April last year on concerns over falling exports from the world’s second-biggest grower Malaysia and weaker soybean oil. (source: BBG)