Indonesian consumer confidence improves slightly in May, Rupiah unfazed
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
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.
