Halister News

(Bloomberg) -- A higher-than-expected Indonesia CPI in June may be the catalyst for USD/IDR to re-test the year’s low, Bloomberg strategist Andrew Robinson writes.

• Consumer prices probably rose 3.40% y/y from prev. 3.33%, snapping two months of slower gains, according to median est. in Bloomberg survey; ests. range from 3.27% to 3.90%
  • Data due tomorrow, no time specified; 4 out of last 5 releases were announced just after 11am local time
• BI forecasts June inflation up 0.5%-0.6% m/m, Senior Deputy Governor Adityaswara said on June 28
  • Median est. is for 0.53% m/m gain: Bloomberg survey
• USD/IDR may decline to 12,978 March 7 low and lowest for 2016; pair now up 0.2% at 13,182
  • Pair dropped 1.5% so far this week on expectations Fed may push back any rate increase on Brexit contagion
  • USD/IDR MACD is bearish; below signal and zero lines and dropping
• 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