USD/IDR sits at multi-day tops, as Indonesia Q4 current account deficit widens to 2.84%

Dhwani Mehta FXStreet

According to the latest data published by the Bank Indonesia (BI), the Indonesian central bank, the country’s current account deficit widened further in the fourth quarter of 2019.

Key Details

Indonesia reported an $8.1 billion (bln) current account deficit in October-December, equivalent to 2.84% of gross domestic product (GDP), from a 2.7% gap in the previous quarter.

Q4 2019 balance of payments at $4.3 bln, vs. -$0.05 bln in Q3.

Full-year 2019 balance of payments at $4.7 bln surplus vs. 2018's deficit of $7.1 bln.

Full-year 2019 current account balance was -2.72% of GDP, vs revised 2.94% deficit in 2018.

USD/IDR sits at multi-day high

Amid growing China coronavirus concerns and widening Indonesia’s current account deficit, the Indonesian rupiah remains on the offers so far this Monday. USD/IDR trades at 13,717, having posted a new three-day high at 13,722.50 in the last minutes.

Markets look forward to the country’s Retail Trade report due later in the session ahead.

Australia, Indonesia seal free trade deal – Associated Press

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USD/IDR Technical levels to watch

USD/IDR

Overview
Today last price	13717.0
Today Daily Change	-24.7000
Today Daily Change %	-0.18
Today daily open	13740

Trends
Daily SMA20	13674.425
Daily SMA50	13842.7189
Daily SMA100	13972.0665
Daily SMA200	14085.1092

Levels
Previous Daily High	13785.5
Previous Daily Low	13620
Previous Weekly High	13834.218
Previous Weekly Low	13600
Previous Monthly High	14023
Previous Monthly Low	13217.378
Daily Fibonacci 38.2%	13722.279
Daily Fibonacci 61.8%	13683.221
Daily Pivot Point S1	13644.8333
Daily Pivot Point S2	13549.6667
Daily Pivot Point S3	13479.3333
Daily Pivot Point R1	13810.3333
Daily Pivot Point R2	13880.6667
Daily Pivot Point R3	13975.8333

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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