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CHINA PRESS

China Should Act Early To Avoid Balance Sheet Recession

AUSSIE BONDS

Away From Best Levels

CNH

CNY Fixing - Slightly Firmer Bias

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DOLLAR-IDR
DOLLAR-IDR: USD/IDR has surged as the risk-off theme from European & U.S. hours
has carried over into Asia trade. The pair last sits +180 pips at IDR14,200,
even as Bank Indonesia said it will intervene in spot, NDF and bond markets to
curb the excessive depreciation of the rupiah.
- Bulls need further gains past IDR14,233 before targeting the 200-DMA at
IDR14,362. On the downside, focus is on Jun 8 low of IDR13,873. A break here
would reinstate the recent downtrend.
- Indonesia's consumer confidence index will be released later today. Next
week's docket features trade balance (Monday) and monetary policy decision from
Bank Indonesia (Thursday).

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