Bank Indonesia to keep rates on holdReuters poll; USD/IDR hits 4-month tops

16-May-2019 Intellasia | FXStreet | 6:00 AM Print This Post

According to the latest Reuters poll of 20 analysts, the Indonesian central bank, Bank Indonesia’s (BI), is seen steering the key interest rate on a steady course for the sixth straight meeting due this Thursday, in the wake of escalating US-China trade tensions that weighs down on the Indonesian Rupiah.

Key Findings:

“All 20 analysts in the poll forecast no change in Bank Indonesia’s (BI) 7-day reverse repurchase rate, which has been 6.00 percent since November.

Of nine poll respondents who gave a view on the end of the year benchmark rate, seven said the benchmark will be lower than now while two predicted it would still be 6.00 percent.”

Meanwhile, USD/IDR now prints fresh four-month tops at 14,550, as the Indonesian Rupiah continues to lose ground amid escalating US-China trade war.

“Since a peak in mid-Aprilwhen unofficial vote counts showed President Joko Widodo securing a second termthe rupiah has dropped about 3 percent against the dollar, due to souring foreign investors sentiment for risky assets and a cyclical rise in dollar demand in Indonesia for offshore payments,” as cited by Reuters.

USD/IDR Technical Levels

USD/IDR

OVERVIEW

Today last price 14450

Today Daily Change -27.2500

Today Daily Change percent -0.19

Today daily open 14489.5

TRENDS

Daily SMA20 14204.3525

Daily SMA50 14198.511

Daily SMA100 14172.545

Daily SMA200 14478.6698

LEVELS

Previous Daily High 14517.5

Previous Daily Low 14325

Previous Weekly High 14505

Previous Weekly Low 14211

Previous Monthly High 14718

Previous Monthly Low 13974.25

Daily Fibonacci 38.2 percent 14443.965

Daily Fibonacci 61.8 percent 14398.535

Daily Pivot Point S1 14370.5

Daily Pivot Point S2 14251.5

Daily Pivot Point S3 14178

Daily Pivot Point R1 14563

Daily Pivot Point R2 14636.5

Daily Pivot Point R3 14755.5

https://www.fxstreet.com/news/bank-indonesia-to-keep-rates-on-hold-reuters-poll-usd-idr-hits-4-month-tops-201905140636

 


Category: Indonesia

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