Free Trial
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.
IDR
Spot USD/IDR has continued to slide, reinforcing the head and shoulders pattern charted in April. Bears have prevailed despite the recent formation of a golden cross and the rate printed its worst levels since Mar 12. Bears now set their sights on IDR14,343/14,340, which represent the 38.2% retracement of the Feb - Apr rally/Mar 12 low. Next support is located at IDR14,243, which limited losses on Mar 3. The rate last changes hands -81 figs at IDR14,354.
- USD/IDR 1-Month NDF has shed 73 figs and last trades at IDR14,383, with bears looking for a break below Mar 11 low of IDR14,345 before targeting the 100-DMA at IDR14,319. The rate now sits at its worst levels since Mar 12.
- The rupiah has managed to garner strength despite a broadly firmer greenback & upticks in U.S. Tsy yields seen in Asia-Pac hours, happy to forget about yesterday's disappointing Q1 GDP print.
Fig. 1: Spot USD/IDR
Source: MNI - Market News/Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok