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IDR: Rupiah Weakens at Open Following Surprise Rate Cut.  

IDR
EM BulletBulletIndonesiaAPACEmerging Market News
  • USD/IDR is up at 16,378 in Jakarta morning; versus yesterday’s close of 16,320.
  • The rupiah remains well above the 16,000 and moves in recent days has pulled the 20-day EMA higher to 16,182 .78 and the 200-day EMA to 15,831.12.  Next key technical level is 16,400, which it hasn’t been through since June last year.    
  • Bloomberg Asia dollar spot index is up by +0.03% and the Bloomberg Dollar spot index is up +0.03%.
  • USD/IDR one-month implied volatility is down this morning to 6.7625%, versus 6.8975% for yesterday’s close.
  • Indonesia's 10-year bond yield is at 7.246%.
  • Indonesia 5 yr USD CDS at 76bps (Tuesday’s close 75bp, 5-year low 38bps in 2020).

Headlines

  •  Indonesia defied market expectations by cutting its key interest rate, moving to bolster economic growth even after the local currency’s recent slide beyond the key level of 16,000 to the dollar. (source: BBG).
  • Bank Indonesia Shock Rate Cut to Put More Pressure on IDR: MUFG (source: BBG).
  • BI surprises markets with rate cut to boost domestic demand BI Governor Perry Warjiyo says the central bank's unexpected decision to cut rates this month was driven in part by reduced uncertainty surrounding the US policies of the incoming Trump administration. (source: Jakarta Post)

 

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  • USD/IDR is up at 16,378 in Jakarta morning; versus yesterday’s close of 16,320.
  • The rupiah remains well above the 16,000 and moves in recent days has pulled the 20-day EMA higher to 16,182 .78 and the 200-day EMA to 15,831.12.  Next key technical level is 16,400, which it hasn’t been through since June last year.    
  • Bloomberg Asia dollar spot index is up by +0.03% and the Bloomberg Dollar spot index is up +0.03%.
  • USD/IDR one-month implied volatility is down this morning to 6.7625%, versus 6.8975% for yesterday’s close.
  • Indonesia's 10-year bond yield is at 7.246%.
  • Indonesia 5 yr USD CDS at 76bps (Tuesday’s close 75bp, 5-year low 38bps in 2020).

Headlines

  •  Indonesia defied market expectations by cutting its key interest rate, moving to bolster economic growth even after the local currency’s recent slide beyond the key level of 16,000 to the dollar. (source: BBG).
  • Bank Indonesia Shock Rate Cut to Put More Pressure on IDR: MUFG (source: BBG).
  • BI surprises markets with rate cut to boost domestic demand BI Governor Perry Warjiyo says the central bank's unexpected decision to cut rates this month was driven in part by reduced uncertainty surrounding the US policies of the incoming Trump administration. (source: Jakarta Post)

 

Keep reading...Show less