Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

USD/IDR met resistance ahead of the 200-week SMA at 13784

  • USD/IDR upside run out of steam in the 13770 region on Thursday.
  • The 200-week SMA, today at 13783, offers initial resistance.
  • The BI reduced the policy rate by 25 bps to 4.75% earlier on Thursday.

The Indonesian rupiah is losing further ground in the second half of the week, lifting USD/IDR to as high as the 13770 region, pips below the key 200-week SMA.

USD/IDR higher post-BI decision, USD-buying

The pair climbed to fresh monthly tops arund 13770 earlier in the session and following the decision by the Bank Indonesia (BI) to cut the policy rate by 25 bps, matching markets’ consensus.

In fact, investors have already anticipated the move by the central bank, which aims mainly to contain the negative effects on the economy of the outbreak of the Chinese coronavirus (COVID-19).

In addition, the BI revised lower its forecasts for domestic growth and it now sees the GDP expanding 5.0%-5.4% during the current year (from 5.1%-5.5%). Furthermore, the bank expects the loan growth target at 9%-11% (from 10%-12%)m, while inflation and current account predictions were left unchanged.

Moving forward, the rupiah is expected to remain under scrutiny in light of prospects of further easing by the central bank, particularly following forecasts of lower economic growth and steady inflation.

USD/IDR levels to watch

At the moment, the pair is advancing 0.13% at 13732.0 and faces the next resistance at 13770.0 (monthly high Feb.20) seconded by 13783.9 (200-week SMA) and then 13803.4 (55-day SMA). On the other hand, a drop below 13669.0 (21-day SMA) would aim for 13620.0 (monthly low Feb.6) and finally 13560.0 (2020 low Jan.24).

Wall Street opens lower, rising crude oil prices support energy shares

Wall Street's main indexes started the day in the negative territory on Thursday as the rising number of coronavirus infections outside of China, name
Read more Previous

European Monetary Union Consumer Confidence above expectations (-8.2) in February: Actual (-6.6)

European Monetary Union Consumer Confidence above expectations (-8.2) in February: Actual (-6.6)
Read more Next