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Staying Near IDR15,000 Ahead Of Bank Indonesia Rate Decision

IDR

Spot USD/IDR continues to trade just under the IDR15,000 mark, last +5 figs at IDR14,983. Bulls need a break above Jul 6 high of IDR15,024 before setting their sights on May 5, 2020 high of IDR15,138. Bears look for a sell-off towards Jun 27/21 lows of IDR14,794/14,784.

  • USD/IDR 1-month NDF last +18 figs at IDR15,027. Topside technical focus falls on Jul 15 high of IDR15,190, while on the downside attention is drawn to Jul 8 low of IDR14,966.
  • MYR/IDR trades at IDR3,366, barely changed on the day. Bears look for a dip through Jun 27 low of IDR3,358 before taking aim at IDR3,349, the 50-DMA. Bulls need a rebound above the IDR3,400 mark to regain the upper hand.
  • SGD/IDR deals at IDR10,769, a touch lower on the day, after lodging a fresh cycle high in early trade. Renewed gains past Jun 30, 2021 high of IDR10,821 would confirm that bullish impetus is building. Bears look for a pullback under the 50-DMA/Jul 12 low at IDR10,637/10,636.
  • Indonesia's 5-year sovereign CDS premium is pulling back from its recent cyclical high (164bp) to last sit at 148bp.
  • All eyes are on Bank Indonesia, which will announce its monetary policy decision on Thursday. Click here to see our preview of the meeting.
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