USD/IDR: Rupiah off the lows post-upbeat Indonesian trade data
|According to the latest trade data published by the Indonesian Statistics Bureau, the country posted a smaller-than-expected trade deficit in July after recording two straight months of surplus in June and May.
Indonesia reported a trade deficit of $0.06 billion vs. $-0.42 billion expected and $+0.20 billion previous. The imports and exports came in at -15.21% and -5.12% respectively vs. -18.12% and -11.40% expectations and +2.80% and -8.98% respective priors.
The median forecast from 11 economists was for a $0.42 trade deficit last month, the Reuters poll showed last week.
Upbeat trade report helps the Indonesian Rupiah to recover some ground versus the US dollar, sending the USD/IDR cross lower towards 14,275 levels. The pair hit two-day highs of 14,310 before the data release.
USD/IDR Levels to watch
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.