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USD/IDR Operates Just Above Recent Lows

IDR

Spot USD/IDR continues to hover just above recent lows, last trades little changed at IDR14,001 in a quiet pre-LNY session. A slide through Jan 22 low of IDR13,993 would allow bears to take aim at Jan 4 cycle low of IDR13,865. Meanwhile, a jump above Feb 5 high of IDR14,048 would open up the 50-DMA/Jan 28 high at IDR14,067/14,099.

  • Indonesia's consumer confidence index issued by BI deteriorated to 84.9 from 96.5, following the re-imposition of social restrictions in Java and Bali.
  • Indonesia extended its border closure for foreigners by two weeks, through Feb 22.
  • Implied USD/IDR 1-month volatility had another look under its one-year lows today.
  • Indonesian BoP current account balance comes out tomorrow.

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