Indonesian consumer confidence improves slightly in May, Rupiah unfazed

Dhwani Mehta FXStreet

The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence gauge ticked slightly higher at 128.2 in May when compared to 128.1 booked in April.

Key Details (via Public Technologies):

“Consumer optimism was driven by the Current Economic Condition Index (CECI), in particular, the respondents' perception of current job availability and conditions for buying durable goods. On the other hand, consumer expectations of future economic dynamics remained solid despite decreasing on the previous period, with the decline primarily affecting expectations of incomes and business conditions in the next 6 months.

The latest survey also showed how the respondents predicted a build-up of inflationary pressures in the next 6 months (November 2019) as seasonal demand for goods and services begins to increase near the end of the year.”

Meanwhile, the USD/IDR pair moved-off the highs and now trades around a flat line near 14,240 levels, with 14,335/45 seen as a tough nut to crack for the buyers.

USD/IDR Technical Levels

USD/IDR

Overview
Today last price	14243.5
Today Daily Change	20.0000
Today Daily Change %	0.14
Today daily open	14223.5

Trends
Daily SMA20	14346.825
Daily SMA50	14253.551
Daily SMA100	14187.464
Daily SMA200	14451.1723

Levels
Previous Daily High	14330
Previous Daily Low	14188.5
Previous Weekly High	14288
Previous Weekly Low	14157.1
Previous Monthly High	14661.5
Previous Monthly Low	14179
Daily Fibonacci 38.2%	14242.553
Daily Fibonacci 61.8%	14275.947
Daily Pivot Point S1	14164.6667
Daily Pivot Point S2	14105.8333
Daily Pivot Point S3	14023.1667
Daily Pivot Point R1	14306.1667
Daily Pivot Point R2	14388.8333
Daily Pivot Point R3	14447.6667

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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