USD/IDR Price News: Rupiah drops to 15,100 on softer Indonesia Inflation, upbeat US Dollar

  • USD/IDR prints mild gains amid downbeat Indonesia inflation data, firmer US Dollar.
  • Indonesia Inflation softens in July, US Dollar Index pokes three-week high.
  • Optimism in Asia fails to defend Rupiah buyers amid mixed catalysts ahead of mid-tier US data.
  • US ISM Manufacturing PMI, JOLTS Job Openings eyed for intraday directions, Indonesia Q2 GDP, US NFP are the key.

USD/IDR justifies downbeat Indonesia Inflation during early Thursday as bulls prod the 15,120 level to print mild gains heading into the European session. Apart from the downbeat Indonesia inflation, the firmer US Dollar also favors the Indonesia Rupiah (IDR) bears.

That said, Indonesia's Inflation eases to 3.08% YoY in June from 3.52% prior, compared to 3.1% expected, whereas the Core Inflation also edges lower to 2.43% versus 2.50% market forecasts and 2.58% previous readings.

On the other hand, the Dollar Index (DXY) clings to mild gains at a three-week high of around 102.00 marked earlier in the day.

It’s worth noting that the hawkish comments from the Fed officials and mixed US data join downbeat headlines about China to also propel the USD/IDR prices amid a risk-on mood in the Asia-Pacific zone.

That said, Chicago Fed President Austan Goolsbee defends the US central bank’s hawkish moves while Dallas Fed Manufacturing Business Index improves to -20.0 for July from -23.2 prior versus -26.3 expected. Further, Chicago PMI rose to 42.8 from 41.5 prior versus 43.0 market forecasts. In doing so, the DXY ignores Friday’s softer prints of US inflation clues and the weekend comments from Minneapolis Fed President Neel Kashkari’s criticism of higher interest rates.

Elsewhere, fresh fears of the US-China tussle, as Beijing restricts drone exports in retaliation to the US tech and trade war tactics by citing the “national security” measures, prod the optimists in the Asian-Pacific zone. Also weighing on the sentiment could be the downbeat China PMI as Caixin Manufacturing PMI for July fails to trace its upbeat NBS counterpart while declining to 49.2 for July from 50.5 prior, versus 50.3 market forecasts, marking the lowest level since January.

Looking ahead, US ISM Manufacturing PMI for July and JOLTS Job Opening for June will direct intraday moves of the Indonesia Rupiah. However, major attention will be given to Friday’s Indonesia Gross Domestic Product (GDP) for the second quarter (Q2) and the US Nonfarm Payrolls (NFP) for clear directions.

Technical analysis

A daily closing beyond 15,150 becomes necessary for the USD/IDR bulls to challenge the yearly top of around 15,230. That said, the 15,000 round figure puts a floor under the Indonesia Rupiah prices.

Additional important levels

Today last price 15120
Today Daily Change 28.4500
Today Daily Change % 0.19%
Today daily open 15091.55
Daily SMA20 15052.855
Daily SMA50 14992.235
Daily SMA100 14966.6985
Daily SMA200 15193.8255
Previous Daily High 15112
Previous Daily Low 15062.95
Previous Weekly High 15139
Previous Weekly Low 14964.35
Previous Monthly High 15916.7
Previous Monthly Low 13588
Daily Fibonacci 38.2% 15081.6871
Daily Fibonacci 61.8% 15093.2629
Daily Pivot Point S1 15065.6667
Daily Pivot Point S2 15039.7833
Daily Pivot Point S3 15016.6167
Daily Pivot Point R1 15114.7167
Daily Pivot Point R2 15137.8833
Daily Pivot Point R3 15163.7667



Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content

Recommended content

Editors’ Picks

AUD/USD attracts some sellers below 0.6800 ahead of Chinese data

AUD/USD attracts some sellers below 0.6800 ahead of Chinese data

The AUD/USD pair trades on a weaker note around 0.6770, snapping the four-day winning streak during the early Asian session on Monday. The recovery of the US Dollar provides some support to the pair.


EUR/USD: The door appears open to extra gains in the near term

EUR/USD: The door appears open to extra gains in the near term

Another auspicious week saw EUR/USD trade with decent gains and extend its positive streak for the third consecutive week, including a visit to the key 1.0900 region for the first time since early June.


Gold turns bullish as US data bolster case for Fed rate cut in September

Gold turns bullish as US data bolster case for Fed rate cut in September

Gold gathered bullish momentum and climbed above $2,400 on broad-based USD weakness. Investors expect the Fed to reduce the policy rate in September after soft inflation data. XAU/USD could target a new all-time high once $2,400 is confirmed as support.

Gold News

Shiba Inu erases losses from past week, eyes 18% gains

Shiba Inu erases losses from past week, eyes 18% gains

Shiba Inu traders are anticipating the roll-out of futures contracts, products like Exchange Traded Funds that could boost the asset’s utility. An IBC report shows the contract is expected to be listed post Monday, July 15.

Read more

Trump Assassination Attempt: Gold, stocks set to decline on Republican sweep speculation Premium

Trump Assassination Attempt: Gold, stocks set to decline on Republican sweep speculation

Fist in the air and on with the fight - that has been the historic picture that former President Donald Trump shortly after he survived an assassination attempt on his life. Trump was injured in his ear but seems to have come out stronger politically from the shocking political violence. 

Read more