- USD/IDR drops for the second consecutive day, recently off intraday low.
- Indonesia Retail Sales jumped 15.6% versus -14.6% prior contraction.
- S&P 500 Futures, Asian stocks remain mildly bid despite firmer US bonds.
- US CPI becomes the key, risk catalysts may offer intermediate clues.
USD/IDR prints 0.22% intraday loss despite recent U-turn from intraday low to $14,247 amid early Thursday. Although the US dollar’s safe-haven appeal probes the pair sellers amid cautious markets, the rupiah (IDR) pair drops on an upbeat Indonesia Retail Sales growth.
As per the latest figures from Statistics Indonesia, the nation’s Retail Sales not only reversed the previous month’s contraction of -14.6% but rose +15.6% in April. “Bank Indonesia said rising purchases during the Muslim fasting month also boosted the numbers. BI predicts a 12.9% rise in retail sales in May” said Reuters following the release.
On the contrary, the market’s cautious sentiment put a bid under the US dollar, probe the pair’s second consecutive day of losses.
Given the mixed sentiment ahead of the key US Consumer Price Index (CPI) data for May, USD/IDR sellers may wait for fresh clues before declining below the latest low near $14,223.
A clear downside break of the monthly support line, around $14,265, directs USD/IDR towards May’s low of $14,092. It’s worth noting that a corrective pullback needs to cross a two-month-old falling resistance line near $14,340 to recall the pair buyers.
Additional important levels
|Today last price||14241.2|
|Today Daily Change||-37.7500|
|Today Daily Change %||-0.26%|
|Today daily open||14278.95|
|Previous Daily High||14316|
|Previous Daily Low||14243.55|
|Previous Weekly High||14372.4|
|Previous Weekly Low||14214.8|
|Previous Monthly High||14536.75|
|Previous Monthly Low||14092.2|
|Daily Fibonacci 38.2%||14271.2259|
|Daily Fibonacci 61.8%||14288.3241|
|Daily Pivot Point S1||14243|
|Daily Pivot Point S2||14207.05|
|Daily Pivot Point S3||14170.55|
|Daily Pivot Point R1||14315.45|
|Daily Pivot Point R2||14351.95|
|Daily Pivot Point R3||14387.9|
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.