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Rupiah Weakens In Line With Regional Trend, Consumer Sentiment Erodes

IDR

Spot USD/IDR has added 40 figs and last trades at IDR15,293 as Asia digests better-than-forecast U.S. jobs report released last Friday. Should we get above Oct 4 cycle high of IDR15,309, bulls could target Apr 23, 2020 high of IDR15,598. Bears look for a dip through Sep 30 low of IDR15,150 before taking aim at the 100-DMA at IDR14,881.

  • USD/IDR 1-month NDF last +12 figs at IDR15,317. Topside focus falls on Oct 3 high of IDR15,394, while bears look for losses past Oct 5 low of IDR15,158.
  • Foreign investors sold a net $85.16mn in local equities Friday, while the Jakarta Comp traded on a heavier footing. The index keeps retreating and last sits ~0.9% below neutral levels, testing its 200-DMA after rejecting that moving average on Sep 30.
  • Palm oil futures advanced for the seventh consecutive days as of last Friday, with trading closed today due to a holiday in Kuala Lumpur. The aggregate BBG Commodity Index is slightly softer today.
  • Indonesia's official consumer confidence index eeased to 117.2 last month from 124.7 prior,. Consumer sentiment gauge from Danareksa Reserarch is expected to hit the wires in the coming days.
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