According to the latest trade data published by the Indonesian Statistics Bureau, the country unexpectedly posted a trade surplus in August.
Indonesia reported a trade surplus of $0.085 billion vs. $-0.42 billion expected and $-0.06 billion previous. The imports and exports came in at -15.60% and -9.99% respectively vs. -18.12% and -11.40% expectations and -15.21% and -5.12% respective priors.
The median forecast from 11 economists was for a $0.19 trade surplus last month, the Reuters poll showed last week.
Upbeat trade report fails to rescue the Indonesian Rupiah versus the US dollar, keeping the USD/IDR cross at the higher levels near 14,040. The pair hit two-day highs of 14,055 but stalled the upside after Bank Indonesia intervened in bond market to stem the sharp decline in the Rupiah.
USD/IDR Levels to watch
|Today last price||14034.4|
|Today Daily Change||58.5000|
|Today Daily Change %||0.42|
|Today daily open||13975.9|
|Previous Daily High||13997.25|
|Previous Daily Low||13910.5|
|Previous Weekly High||14112.4|
|Previous Weekly Low||13883|
|Previous Monthly High||14582.9|
|Previous Monthly Low||14075|
|Daily Fibonacci 38.2%||13964.1115|
|Daily Fibonacci 61.8%||13943.6385|
|Daily Pivot Point S1||13925.1833|
|Daily Pivot Point S2||13874.4667|
|Daily Pivot Point S3||13838.4333|
|Daily Pivot Point R1||14011.9333|
|Daily Pivot Point R2||14047.9667|
|Daily Pivot Point R3||14098.6833|
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