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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessRupiah Struggles, Eyes This Week's Trade Report & BI Decision
Spot USD/IDR ground through trendline support last Friday, but the rate has popped higher at the start to the week and last trades +35 pips at IDR14,115. The pair has edged higher despite the net risk-on assessment of weekend developments, catching up with gains posted by the greenback into Friday's close of onshore IDR trade.
- In case you missed it, Bank Indonesia amended the schedule of its regular operations to facilitate economic activity during the year-end holiday season.
- Elsewhere, BI released its projection of Dec CPI, which is expected to rise 0.3% M/M, with 2020 CPI inflation expected to register at +1.54%.
- Bulls need a clearance of Dec 4 high of IDR14,170 & Nov 20 high of IDR14,206, before targeting Nov 13 high/23.6% retracement of the Sep 11 - Nov 10 sell-off at IDR14,222/14,227. Conversely, losses past Nov 10 low/round figure of IDR14,004/14,000 would bring Jun 8 low of IDR13,873 into play.
- Looking ahead, Indonesian trade report comes out tomorrow, while Bank Indonesia will deliver its monetary policy decision Thursday. FinMin Indrawati & Econ Min Hartarto will deliver speeches today.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.