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Virus Continues To Spread In Jakarta

IDR

Spot USD/IDR has recouped its initial losses and last changes hands at IDR14,441, little changed on the day. Further gains past Jun 23/May 3 highs of IDR14,468/14,475 would be welcome by bulls, while bears look for a dip through the 50-DMA at IDR14,380.

  • USD/IDR 1-month NDF last seen -16 figs at IDR14,504. Bears need a fall through Jun 18 low of IDR14,438 to gain some fresh impetus, while bulls look to take out Jun 21 high of IDR14,578.
  • The Health Ministry announced that three Jakarta public hospitals will be adapted to focus on Covid-19 patients, as the occupancy rate for Covid-19 beds has exceeded 90% in the capital. The nationwide bed occupancy rate is estimated at 67%-68%. Elsewhere, Jakarta Gov Baswedan revealed that the number of burials related to Covid-19 deaths reached a new record on Wednesday, in another worrying sign re: local epidemiological situation.
  • Bank Indonesia's head of Money Market Department holds a press briefing this afternoon.
  • The Indonesian data docket for next week features Markit M'fing PMI & CPI (Thursday) as well as Danareksa Consumer Confidence (no fixed time).

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