USD/IDR Price News: Rupiah welcomes highest Indonesia Retail Sales growth since 2016 above $14,200


  • 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.

It’s worth noting that the upbeat stock futures and Asian equities, led by risk-positive news concerning the US-China trade and investment ties, also weigh on the USD/IDR prices.

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.

Read: US CPI May Preview: Inflation angst is coming

Technical analysis

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

Overview
Today last price 14241.2
Today Daily Change -37.7500
Today Daily Change % -0.26%
Today daily open 14278.95
 
Trends
Daily SMA20 14306.2375
Daily SMA50 14406.599
Daily SMA100 14313.7392
Daily SMA200 14367.2588
 
Levels
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.

Feed news

GME stock positioned for another short squeeze

Get the full analysis and chart in our Insights. Upgrade to Premium today    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD loses 1.21 as the dollar extends its gains

EUR/USD has dipped below 1.21, some 70 pips down on the day as the dollar recovers alongside Treasury yields. US Consumer Sentiment beat estimates with 86.4 points. 

EUR/USD News

GBP/USD retreats amid UK GDP miss, reopening concerns

GBP/USD is hovering around 1.4150, down on the day. UK GDP missed with 2.3% in April and a four-week delay to Britain's reopening is speculated. The greenback is gaining some ground.

GBP/USD News

XAU/USD drops back below $1900, as US dollar rebounds ahead of data

Gold price has retraced below the $1900 mark once again, having tested Tuesday’s high near $1903. The latest leg down in gold price comes on the back of a tepid bounce staged by the US dollar, as the Treasury yields trim losses across the curve.

Gold News

Ethereum price prepares for a bullish weekend, targeting $3,000

Ethereum price seems prime to revisit $3,000. Although ETH faces resistance at $2,300, the upswing seems imminent. A downswing below $2,000 could invalidate the bullish thesis. 

Read more

Hot Inflation is warming the seat for the June FOMC

Americans are seeing the fastest price increases since their seventh-graders were born as inflation builds into the US economy from the disruptions of the pandemic lockdowns. Core CPI at 3.8% is the steepest gain in 29 years.

Read more

Forex MAJORS

Cryptocurrencies

Signatures