HALISTER1: INSIDE INDONESIA: IDR Falls; CDS Premium Narrows to 4-Week Low

INSIDE INDONESIA: IDR Falls; CDS Premium Narrows to 4-Week Low

(Bloomberg) -- Rupiah drops 0.6% to 13,235 per dollar; five-year credit-protection costs for Indonesia fell 5 bps yesterday to 196 bps, lowest daily close since March 18, according to CMA.
  • Indonesia’s electricity use rose 8.15% y/y in March, the highest in at least 4 yrs, Investor Daily Indonesia reports
  • USD/IDR climbs after yesterday’s bullish outside-range day
    • 1st resistance: 13,237, April 6 high; 2nd resistance: 13,245, March 31 low; 3rd resistance: 13,306, 50-DMA
    • 1st support: 13,091, April 13 low; 2nd support: 13,033, March 18 low; 3rd support: 13,010, March 14 low
  • International investors were net sellers of 503b rupiah ($38m) in Indonesian bonds on April 11, according to finance ministry data; net sellers of $7.5m in local equities yesterday, according to exchange data
  • 10-year govt bond yields little changed at 7.428%
  • Palm oil shipments seen falling 8.3% in March, according to survey; Indonesian Palm Oil Association to publish data later this month
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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