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USD/IDR Moves Back Under 50-DMA, BI To Auction 1-Month DNDF

IDR

Spot USD/IDR has moved away from its 50-DMA attacked yesterday, after the rate failed to consolidate above the moving average. It last sits -21 pips at IDR14,057, with bears looking for a dip through Jan 22 low of IDR13,993, towards Jan 4 low of IDR13,865. Conversely, a firm bounce above the 50-DMA/yesterday's peak at IDR14,083/14,099 would draw attention to the 38.2% retracement of the Oct 14 - Jan 4 slide/Jan 12 high of IDR14,204/14,205.

  • Per BBG, Bank Indonesia will offer 1-month domestic NDF at IDR14,111 in an auction.
    • USD/IDR 1-month NDF trades flat at IDR14,115 as we type.
  • The Jakarta Post ran an opinion piece noting that health data suggests that the recent relaxation of restrictions in Java and Bali may have resulted in more Covid-19 cases and health protocol violations.
  • Indonesian Trade Min Lufti will hold a briefing on Indonesia's 2021 trade outlook at 13:00 local time in Jakarta.
  • Monday's Markit M'fing PMI reading kicks off Indonesian data releases next week, with CPI also due on Monday and quarterly GDP coming up on Friday. In addition, Danareksa Consumer Confidence will hit the wires at some point next week.
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