USD/IDR stays under pressure ahead of Indonesia trade numbers

  • USD/IDR extends previous losses amid receding geopolitical risks in Indonesia.
  • Trade positive headlines also favor the Indonesian rupiah (IDR) ahead of October month statistics.

With the Indonesian geophysics agency lifting tsunami alert after a major earthquake, USD/IDR remains on the back foot while taking rounds to 14,075 during early Friday. Indonesian trade balance numbers are of immediate concern to the pair traders.

The pair behaved violently on Thursday as traders struggled to justify a 7.1 magnitude earthquake near Indonesia’s Moluccas islands and then a lift to tsunami alert releasing some tension. The daily closing, however, turned on red with the US dollar’s (USD) broad weakness and renewed optimism surrounding the US-China trade deal.

Comments from the White House Economic Adviser Larry Kudlow, as well as an anonymous Chinese trade source cited by the Fox reporter, signal trade positive sentiment surrounding the US-China phase one deal. The United States (US) shows readiness to extend waivers for doing business with China’s Huawei while the dragon nation welcomes US poultry.

Dody Budi Waluyo, Bank Indonesia’s (BI) Deputy Governor, believes current economic data still allows for an accommodative monetary policy, as said by Reuters on Monday, whereas the Jakarta Post recently cited inflation, trade and investment to be the reasons behind the BI’s four consecutive rate cuts.

While optimism in Asia, mainly due to the trade risk reset, is likely exerting downside pressure on the pair, October month trade statistics from Indonesia will be the key to watch for fresh direction. The forecast suggests $-0.28B Trade Balance versus $-0.16B prior. Further, Exports could decline further to -8.38% from -5.74% while Imports could also follow the suit with a whooping -16% drop from -2.41% prior.

Technical Analysis

Lows marked July and September, around 13,880, contrast a three-month-old falling trend line, now at 14,210, to limit the pair’s near-term moves.

additional important levels

Today last price 14076.8
Today Daily Change -28.2000
Today Daily Change % -0.20%
Today daily open 14105
Daily SMA20 14050.1025
Daily SMA50 14091.805
Daily SMA100 14117.185
Daily SMA200 14164.211
Previous Daily High 14203.511
Previous Daily Low 13995.819
Previous Weekly High 14089.35
Previous Weekly Low 13931.5
Previous Monthly High 14273.8
Previous Monthly Low 13971.3
Daily Fibonacci 38.2% 14075.1573
Daily Fibonacci 61.8% 14124.1727
Daily Pivot Point S1 13999.3757
Daily Pivot Point S2 13893.7513
Daily Pivot Point S3 13791.6837
Daily Pivot Point R1 14207.0677
Daily Pivot Point R2 14309.1353
Daily Pivot Point R3 14414.7597



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD extends losses toward 1.1250 amid coronavirus concerns

EUR/USD is trading closer to 1.1250 as concerns about US coronavirus cases are growing. Eurozone finance ministers are meeting ahead of next week's summit.  US PPI and updated COVID-19 statistics are awaited.


GBP/USD pressured under 1.26 amid risk-off mood, Brexit uncertainty

GBP/USD is trading below 1.26, off the highs. Rising US coronavirus cases are pushing markets lower and the safe-haven dollar higher. Concerns about Brexit and the UK refusal to participate in the EU coronavirus vaccine scheme are weighing on sterling. 


Gold: Well-defined battle lines point to range play around $1800

Gold nurses losses around the $1800 following Thursday’s good two-way businesses. The risk-off theme amid COVID-19 concerns continues to bode well for the US dollar. 

Gold News

Canada Net Change in Employment June Preview: June is looking better and better

Job gains expected to more than double in June. Unemployment rate to drop to 12% from 13.7 in May. Ivey PMI was twice its forecast in June, highest since Nov 2019. USD/CAD would benefit from better June job figures.

Read more

WTI extends Thursday’s drop as virus cases rise

Oil extends overnight sell-off as virus concerns dominate the market sentiment. The resurgence of virus cases in the US has fueled lockdown fears. The US on Thursday registered 65,551 new cases, a record for a 24-hour period.

Oil News