Rupiah Takes Lead In Asia EM Space On Post-NFP Impetus

Spot USD/IDR gapped lower as trading resumed in Jakarta, with the rupiah taking the lead among the Asia EM pack owing to its sensitivity to moves in U.S. Tsy yields. Post-NDF impetus, which sent U.S. dollar tumbling on Friday, has been the main driver this morning. Spot USD/IDR last sits -100 figs at IDR14,185, off the session low of IDR14,145.

• Bears look for further losses past Feb 24 low of IDR14,073. Conversely, should the rate manage to recoup the 100-DMA at IDR14,243, bulls would be able to target the 200-DMA at IDR14,404.
• USD/IDR 1-Month NDF has last trades +32 figs at IDR14,196, as its fall from opening levels has failed to result in a return to Friday's close. A move through Friday's low of IDR14,133 would expose Feb 25 low of IDR14,080. Bulls keep an eye on the 100-DMA at IDR14,319, followed by May 7 high of IDR14,439.
• Danareksa Consumer Confidence improved to 80.1 in Apr from 74.9 recorded in Mar.
• Bank Indonesia's monthly consumer confidence gauge is expected later today, but there is no fixed time of the release. The previous reading was 93.4.