Free Trial

USD/IDR has been in free fall; after.....>

DOLLAR-IDR
DOLLAR-IDR: USD/IDR has been in free fall; after shedding 260 pips the rate
trades at IDR15,035. Perhaps there has been an element of catch-up with
yesterday's risk-on flows to the move observed today. In local news, Indonesia's
Financial Services Authority said that banks have restructured IDR113.8tn worth
of debt of over 560k borrowers affected by the coronavirus outbreak.
- The rate has punched through its 50-DMA at IDR15,210 and is heading towards
the IDR15,000 mark. A break below that level would expose the 61.8% retracement
of the YtD range at IDR14,741. Bulls need to retake the 50-DMA before setting
their sights on Apr 23 high of IDR15,598.
- Nothing left on Indonesia's docket this week, which turns focus to broader
picture developments.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.