Bank Indonesia to keep rates on hold - Reuters poll; USD/IDR hits 4-month tops

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.

Key Findings:

“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
Daily SMA20 14204.3525
Daily SMA50 14198.511
Daily SMA100 14172.545
Daily SMA200 14478.6698
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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