USD/IDR: Rupiah off the lows post-upbeat Indonesian trade data

According to the latest trade data published by the Indonesian Statistics Bureau, the country posted a smaller-than-expected trade deficit in July after recording two straight months of surplus in June and May.

Indonesia reported a trade deficit of $0.06 billion vs. $-0.42 billion expected and $+0.20 billion previous. The imports and exports came in at -15.21% and -5.12% respectively vs. -18.12% and -11.40% expectations and +2.80% and -8.98% respective priors.

The median forecast from 11 economists was for a $0.42 trade deficit last month, the Reuters poll showed last week.

Upbeat trade report helps the Indonesian Rupiah to recover some ground versus the US dollar, sending the USD/IDR cross lower towards 14,275 levels. The pair hit two-day highs of 14,310 before the data release.

USD/IDR Levels to watch