Halister News

(Bloomberg) -- Rupiah little changed at 13,129 per dollar after gaining for the past 3 days. IDR’s top forecaster expects the currency’s rally to be derailed by the Fed and global headwinds.

• Indonesia considers selling longer bonds for pension fund, Investor Daily Indonesia reports, citing vice FM Mardiasmo
• Portfolio inflows, particularly for bonds, on the back of interest rate cuts and government stimulus measures will help support rupiah, ANZ analysts write in note dated April 11
  • However, the need to fund external deficit means IDR will remain vulnerable beyond near term as Fed is expected to hike rates further and global capital flows remain volatile
• 5-year credit-protection costs for Indonesia dropped 3 bps yesterday to 205 bps, below 50-DMA at 220 bps: CMA data
• USD/IDR is consolidating below its 50-DMA
  • 1st resistance: 13,245, March 31 low; 2nd at 13,329, 50- DMA; 3rd at 13,440, March 29 high
  • 1st support: 13,119, April 4 low; 2nd at 13,033, March 18 low; 3rd at 13,010, March 14 low
• Global funds were net buyers of 1.5t rupiah ($114.2m) in Indonesian bonds on April 7, according to finance ministry data; net sellers of $32.7m in local equities yesterday: exchange data
• 10-year govt bond yields steady at 7.541%