According to the latest Reuters poll of 20 analysts, the Indonesian central bank, Bank Indonesia’s (BI), is seen steering the key interest rate on a steady course for the sixth straight meeting due this Thursday, in the wake of escalating US-China trade tensions that weighs down on the Indonesian Rupiah.
“All 20 analysts in the poll forecast no change in Bank Indonesia’s (BI) 7-day reverse repurchase rate, which has been 6.00 percent since November.
Of nine poll respondents who gave a view on the year-end benchmark rate, seven said the benchmark will be lower than now while two predicted it would still be 6.00 percent.”
Meanwhile, USD/IDR now prints fresh four-month tops at 14,550, as the Indonesian Rupiah continues to lose ground amid escalating US-China trade war.
“Since a peak in mid-April - when unofficial vote counts showed President Joko Widodo securing a second term - the rupiah has dropped about 3 percent against the dollar, due to souring foreign investors sentiment for risky assets and a cyclical rise in dollar demand in Indonesia for offshore payments,” as cited by Reuters.
USD/IDR Technical Levels
|Today last price||14450|
|Today Daily Change||-27.2500|
|Today Daily Change %||-0.19|
|Today daily open||14489.5|
|Previous Daily High||14517.5|
|Previous Daily Low||14325|
|Previous Weekly High||14505|
|Previous Weekly Low||14211|
|Previous Monthly High||14718|
|Previous Monthly Low||13974.25|
|Daily Fibonacci 38.2%||14443.965|
|Daily Fibonacci 61.8%||14398.535|
|Daily Pivot Point S1||14370.5|
|Daily Pivot Point S2||14251.5|
|Daily Pivot Point S3||14178|
|Daily Pivot Point R1||14563|
|Daily Pivot Point R2||14636.5|
|Daily Pivot Point R3||14755.5|
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