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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

DOLLAR-IDR
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.