Indonesian Rupiah: Limited relief, challenging backdrop – OCBC
Christopher Wong at OCBC expects the Indonesian Rupiah (IDR) to see some near-term relief from softer United States (US) payrolls and a wider trade surplus, with policymakers emphasizing IDR stability. However, elevated long-end US Treasury yields and high Brent prices keep the external backdrop challenging, suggesting only modest USD/IDR pullback unless US yields and Oil move clearly lower.
Recovery needs yields and Oil lower
"IDR may find some near-term relief in the open following softer US payrolls last Fri, while Indonesia’s wider-than-expected August trade surplus provides an additional buffer. However, the improvement in the trade balance was partly due to weaker-than-expected imports and may not yet signal a sustained improvement in the external position."
"Domestically, policymakers continue to signal a focus on IDR stability. BI stressed that the shift towards greater use of derivatives does not represent a reduction in the intensity of its FX stabilisation efforts, while the Ministry of Finance highlighted coordination with BI and the importance of maintaining SBN attractiveness."
"Near term, there may be room for some IDR recovery, particularly given relatively bearish positioning, but a more sustained move would likely require a clearer moderation in US yields and oil prices."
"USD/IDR last closed at 17875. Mild bullish momentum shows signs of moderation while RSI fell. Room for retracement. Support at 17820/40 levels (50, 100 DMAs, 23.6% fibo retracement of 2026 low to high), 17760 (21 DMA). Resistance at 17950, 18000 levels."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ - India's Kotak Mahindra Bank shares rise on second quarter loan growth; Goldman Sachs reiterates 'Buy' rating
October 6 – ** Shares of India’s Kotak Mahindra Bank KTKM.NS rose 3.3% to 429.80 rupees ** Kotak Mahindra Bank reported a 24.7% increase in net loans for Q2 FY2027 (link) ** Goldman Sachs reiterated its “Buy” rating with a target price of 540 rupees, citing the better-than-expected Q2 performance update ** Given strong deposit growth and organic loan expansion, the bank’s EPS compound annual growth rate (CAGR) estimate for FY2026-29 was raised to 19% ** It was noted that organic loan growth rose from 15% in the previous quarter to 19% year-on-year; this growth momentum is expected to continue, supported by retail loans, SME lending, and commercial banking ** An average of 37 analysts give the stock a “Buy” rating, with a median target price of 470 rupees – data compiled by LSEG ** Year-to-date, the stock is down 5.5% (To assist non-English speakers, Reuters automatically translates its reports into several other languages. Due to the possibility of errors or lack of required context in automated translations, Reuters does not guarantee their accuracy and provides them for convenience only. Reuters accepts no liability for any damage or loss resulting from the use of automated translation features.)
Hyosung TNC stake held by National Pension Service rises to 10.60% from 10.17%
National Pension Service raised its stake in Hyosung TNC to 10.60% as of Sept. 30, 2026. Holding increased to 458,722 shares from 439,981 shares, a net gain of 18,741 shares. Change was driven by on-market purchases and sales, with the reportable event dated Sept. 1, 2026. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hyosung TNC Corporation published the original content used to generate this news brief via DART, the regulatory disclosure system operated by the South Korea Financial Supervisory Service (FSS) (Ref. ID: 20261006000132), on October 06, 2026, and is solely responsible for the information contained therein.
BoJ may indicate underlying inflation is near the 2% target, sources say
Gold prices continue to fall as HSBC casts doubts and predicts further decline
Crypto prices
More
