USD/IDR opened lower after yesterday's...>

DOLLAR-IDR: USD/IDR opened lower after yesterday's risk-on flows. It last trades

-25 pips at IDR14,825 as we are awaiting today's monetary policy decision from

Bank Indonesia; BBG consensus forecast is for a 25bp cut to the benchmark

interest rate, which would bring it to 4.25%.

- Indonesian FinMin Indrawati said yesterday that this year's budget deficit is

expected to widen to 6.27% of GDP from 5.07% estimated previously.

- Elsewhere, President Joko Widodo refused to relax social distancing guidelines

immediately and asked off'ls to focus on enforcing existing rules.

- Bears would be pleased by a fall below the 61.8% retracement of the Jan 24 -

Mar 23 rally at IDR14,741, which would bring Mar 13 low of IDR14,595 into view.

Bulls keep an eye on the IDR15,101-133 area, hosting the 50% retracement of

aforementioned rally, 20-EMA, 50-EMA, 21-DMA and intraday highs printed on May

4-6. A break here would open up Apr 28 high of IDR15,489.