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Trade Data Eyed, Bank Indonesia Begin Meeting

IDR

Spot USD/IDR trades +7 figs at IDR14,339 ahead of the release of Indonesia's trade report, which is expected to show a contraction in monthly trade surplus. From a technical perspective, gains past Dec 10 high of IDR14,383 would turn focus to Dec 6 high of IDR14,447. Conversely, a fall through Dec 9 low of IDR14,317 would clear the way to Nov 30 low/100-DMA at IDR14,293/14,290.

  • USD/IDR 1-month NDF last +12 figs at IDR14,359. Bulls look to a rally above Dec 10 high of IDR14,445, while bears eye the 100-DMA at IDR14,332 for initial support.
  • Indonesian government has called upon lawmakers to ratify three backlogged trade deals (RCEP, IK-CEPA and ATISA) to boost momentum behind the economic recovery. The Trade Ministry sees the ratification of RCEP as the most urgent matter.
  • Bank Indonesia begin their monetary policy meeting, with the announcement coming up tomorrow. They are widely expected to stand pat.
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