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Trading Sideways Ahead Of Local Central Bank Speak

IDR

Spot USD/IDR trades flat at IDR14,358 ahead of comments from a senior BI official. Bulls see Mar 24 high of IDR14,380 as their initial target, a break here would expose Mar 7 high of IDR14,415. Bears look for a fall through Mar 30 low of IDR14,325.

  • USD/IDR 1-month NDF last seen at IDR14,374, down 9 figs on the day. IDR14,329 which limited losses on Mar 30 provides the initial bearish target, while bulls look to a jump above Mar 23 high of IDR14,396.
  • Pres Widodo said in a speech Wednesday that he expects about 85mn Indonesians to travel to their hometowns during Ramadan and Eid al-Fitr.
  • Worth noting that Bank Indonesia Dep Gov Waluyo will today discuss the central bank's exit strategy and attempts to support the economic recovery
  • Indonesia's consumer confidence data are expected to hit the wires by the end of this week.

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