USD/IDR sits at IDR15,068, marginally....>

DOLLAR-IDR: USD/IDR sits at IDR15,068, marginally lower on the day amid broader

USD weakness. Indonesian economy took a hit in Q1, with GDP growth slowing to a

15-year low of +2.97% from the previous +4.97%, undershooting projections for

+4.00%. On a Q/Q basis, GDP shrank 2.41% vs. the prior -1.74% and exp. of

-1.27%. The nation's statistics office also released slightly outdated

unemployment data from Feb, with jobless rate printing at 4.99%.

- President Joko Widodo ordered his ministers and a state-owned food company to

take pre-emptive measures ahead of an anticipated drought.

- Meanwhile, a parliamentary committee gave a thumbs up to a presidential decree

re: fiscal stimulus & removing the cap deficit. The legislation still needs to

be passed at a plenary session.

- A fall through Apr 30 low of IDR14,882 is needed to restore bearish momentum,

opening up the 100-DMA at IDR14,524. Bulls keep an eye on the 50-DMA at

IDR15,262. A rally above there would expose Apr 23 high of IDR15,598.

- The focus turns to tomorrow's consumer confidence index, as well as foreign

reserves, due Friday.