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Rupiah Tad Firmer, Comments From Gov't Members Eyed

IDR

Spot USD/IDR has dropped in sync with most USD/Asia crosses, catching up with overnight greenback sales. The rate last sits -31 figs at IDR15,232 with familiar technical contours broadly intact. Bears keep an eye on the 100-DMA (IDR14,835), while bulls look for a move towards the 61.8% retracement of the 2020 sell-off (IDR15,574).

  • USD/IDR 1-month NDF last +60 figs at IDR15,252 with yesterday's cycle high of IDR15,354 providing the nearest topside target. Bears look for losses towards the 100-DMA, which kicks in at IDR14,860.
  • Offshore investors sold a net $7.66mn in Indonesian stocks Wednesday, with the Jakarta Comp index showing some weakness. The index re-opened on a firmer footing, but has trimmed initial gains and last sits ~0.2% above neutral levels.
  • The aggregate Bloomberg Commodity Index sits marginally higher, having trimmed its opening gains.
  • Comments from Indonesian officials may hit the wires today, with Pres Widodo, FinMin Indrawati & Investment Min Lahadalia set to speak at UOB Economic Outlook forum.
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Spot USD/IDR has dropped in sync with most USD/Asia crosses, catching up with overnight greenback sales. The rate last sits -31 figs at IDR15,232 with familiar technical contours broadly intact. Bears keep an eye on the 100-DMA (IDR14,835), while bulls look for a move towards the 61.8% retracement of the 2020 sell-off (IDR15,574).

  • USD/IDR 1-month NDF last +60 figs at IDR15,252 with yesterday's cycle high of IDR15,354 providing the nearest topside target. Bears look for losses towards the 100-DMA, which kicks in at IDR14,860.
  • Offshore investors sold a net $7.66mn in Indonesian stocks Wednesday, with the Jakarta Comp index showing some weakness. The index re-opened on a firmer footing, but has trimmed initial gains and last sits ~0.2% above neutral levels.
  • The aggregate Bloomberg Commodity Index sits marginally higher, having trimmed its opening gains.
  • Comments from Indonesian officials may hit the wires today, with Pres Widodo, FinMin Indrawati & Investment Min Lahadalia set to speak at UOB Economic Outlook forum.