First Indonesia Export Growth in 2 Yrs May Cap USD/IDR: Analysis
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- USD/IDR may fail to breach 50-DMA if Indonesia’s exports match economists’ forecast in September, Bloomberg strategist Andrew Robinson writes.
Alert: HALISTER1- Exports probably rose 0.5% y/y, median est. in Bloomberg survey shows, which would be the first expansion since Sept. 2014; ests. range from -5.42% to +9.90%; data due today
- Data may also show that imports rose 4.23% y/y, which would also be first increase since Sept. 2014, and the trade surplus widened to $589m from $294m, surveys show
- An as-expected outcome could see FX pair retest this month’s low of 12,955, struck on Oct. 10, in near term
- USD/IDR closed 0.3% lower on Oct. 14; 50-DMA was 13,114
- Williams %R fell below overbought threshold to -22
- NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
Source: BFW (Bloomberg First Word)
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UUID: 7947283