The rupiah is well bid this morning,.....>

DOLLAR-IDR: The rupiah is well bid this morning, after USD/IDR gapped lower at

the re-open and last trades -105 pips at IDR14,637. There was an element of

catch up with yesterday's risk-on flows to the move.

- The Jakarta Post cited a speech from President Joko Widodo, who argued that

the economic contraction would have been more severe, if the country had gone

into a full, as opposed to a partial, lockdown. Jokowi said that a full

quarantine could result in a GDP growth of "minus 17 percent".

- Elsewhere, officials told the Jakarta Post that the gov't is willing to cut

red tape further, after the President disbanded 18 state agencies on Monday.

- Bears look for further losses towards the 50-DMA at IDR14,419 & 200-DMA at

IDR14,393. Worth adding that any crossover of these DMAs will be eyed. Bulls

need a push through Jul 20 high of IDR14,822 to resume the uptrend and open up

the nearby 100-DMA, intersecting at IDR14,853.

- Little of note on the Indonesian docket this week.