|

USD/IDR Price News: Rupiah retreats from 11-month high to 14,700 amid mixed Indonesia Inflation

  • USD/IDR picks up bids to snap eight-day downtrend, recovers from the lowest levels since June 2022.
  • Indonesian Inflation, Core Inflation eased in April despite staying beyond 2% to 4% range.
  • Cautious optimism in Asia-Pacific zone fails to please Indonesia Rupiah buyers.
  • Second-tier US data can entertain USD/IDR traders ahead of Fed, NFP.

USD/IDR justifies downbeat Indonesia inflation while bouncing off an 11-month low to 14,710 heading into Tuesday’s European session. In doing so, the Indonesia Rupiah pair fails to cheer a retreat in the US Dollar prices amid a sluggish session due to the mixed sentiment and anxiety ahead of the key data/events.

Indonesia’s headline Inflation eased to 4.33% YoY in April from 4.97% prior and 4.39% market forecasts while the monthly inflation figures came in mixed to 0.33% versus 0.37% expected and 0.18% prior. Further, the Core Inflation eased to 2.83% during the stated month from 2.89% analysts’ estimation and 2.94% prior.

Reuters released Statistics Indonesia chief Margo Yuwono’s comments after the Inflation data as saying, “Higher transportation fares and prices of fuel and some food commodities around the Islamic holy month of Ramadan contributed to April's inflation,” the policymaker also added, “although the increase was more benign than the Ramadan month in previous years.”

On the same line, Indonesia's Finance Minister (FinMin) Sri Mulyani Indrawati, also the governor of Bank Indonesia (BI), said recently that growth in the ASEAN region remains robust and continues to be an important component for global economic growth.

Elsewhere, markets in the Asia-Pacific region remain cautiously optimistic after the International Monetary Fund (IMF) anticipated them to be the most dynamic of the world's major regions in 2023, per the latest reports.

It should be noted, however, that talks surrounding the US default seem to challenge the market’s previously US Dollar positive bias. That said, US Treasury Department renewed fears of US default by pulling forward the date of running out of funds to match obligations if the current debt ceiling isn’t altered, to June 01 from previously signaled July.

On the other hand, relief from the US First Republic Bank issue allowed traders to take a breather as the US regulators seized assets of the First Republic Bank and sold them to a new buyer, namely JP Morgan. The same could be held responsible for the USD/IDR pair’s hesitance in rallying much. Furthermore, Axios came out with headlines suggesting the US allies’ preparations for the US-China war over Taiwan, which in turn keeps the Euro bears hopeful, via the US Dollar’s haven demand.

Moving on, the US Factory Orders for March, expected to rise by 0.8% MoM versus -0.7% prior, may entertain USD/IDR traders ahead of this week’s Federal Reserve (Fed) monetary policy meeting and the US jobs report for April.

Technical analysis

USD/IDR recovers from a lower line of the two-month-old descending triangle, currently near 14,615, backed by the oversold RSI (14) line. The recovery moves, however, need validation from the stated triangle’s top line, close to 14,885 at the latest, to convince the pair buyers.

Additional important levels

Overview
Today last price14701
Today Daily Change25.9500
Today Daily Change %0.18%
Today daily open14675.05
 
Trends
Daily SMA2014866.285
Daily SMA5015100.202
Daily SMA10015207.3535
Daily SMA20015221.9965
 
Levels
Previous Daily High14683
Previous Daily Low14638
Previous Weekly High14985.35
Previous Weekly Low14627
Previous Monthly High15419.05
Previous Monthly Low14627
Daily Fibonacci 38.2%14665.81
Daily Fibonacci 61.8%14655.19
Daily Pivot Point S114647.7
Daily Pivot Point S214620.35
Daily Pivot Point S314602.7
Daily Pivot Point R114692.7
Daily Pivot Point R214710.35
Daily Pivot Point R314737.7

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Editor's Picks

GBP/USD flirts with two-day lows near 1.3180

GBP/USD remains on the back foot in the latter part of Tuesday’s session, sliding to the sub-1.3200 area and challenging weekly lows. Cable’s decline comes as investors assess the political uncertainty in the UK, coupled with softer-than-expected UK PMI data and the better tone in the Greenback.

EUR/USD weakens below 1.1400 on stronger Dollar

EUR/USD adds to Monday’s losses and recedes below the 1.1400 support to clinch fresh 13-month lows in the latter part of Tuesday’s NA session. The pair’s marked sell-off comes on the back of the persistent move higher in th US Dollar, always propped up by rising bets of further tightening by the Fed.

Gold retains bearish bias near two-week low as Fed hike bets support USD

Gold recovers slightly from a fresh two-week low, near $4,080 touched during the Asian session on Wednesday, though it lacks follow-through. The US Dollar stands firm near its highest level since May 2025 amid firming expectations of a Fed rate hike, which, in turn, is seen undermining the non-yielding bullion. Furthermore, mixed US-Iran signals over Tehran's nuclear issues favor the USD bulls, suggesting that the path of least resistance for the commodity remains to the downside.

Australia CPI set to show inflation accelerated again in May

The Australian Bureau of Statistics will publish the high-impact Consumer Price Index for May on Wednesday at 01:30 GMT. Heading into the inflation test, the Australian Dollar is at its lowest level in two months against the US Dollar, having surrendered the 0.7000 psychological mark.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.