​USD/IDR Extends Losses, Moving Away From 50-DMA

Spot USD/IDR has extended yesterday's losses and last trades -20 pips at IDR14,045. The rate remains capped by the descending 50-DMA, after failing to attack that moving average over the last two days, despite finding itself within touching distance of it.

• BBG sources said that Indonesia has shortlisted a handful of people, including apparent frontrunner Pandu Sjahrir of Indies Capital Partners, to lead its new $100bn wealth fund. The final decision and nomination is expected later this month.
• Jakarta Post reported that Indonesia and Malaysia are looking to join forces in running an advocacy campaign in Europe to push back against voices calling for tighter regulations on the use of palm oil in the EU.
• A dip through Jan 15 low of IDR14,020 would clear the way to Jan 4 low of IDR13,865. On the flip side, a break above the 50-DMA at IDR14,100 would open up the 38.2% retracement of the Oct 14 - Jan 4 slide/Jan 12 high at IDR14,204/14,205.
• Indonesia's economic docket for the remainder of this week is headlined by the monetary policy decision from Bank Indonesia, due tomorrow.