Spot USD/IDR has added 44 figs thus far to last change hands at IDR15,170, approaching resistance from the 50% retracement of the 2020 sell-off at IDR15,249. Bears initially look for a fall through the IDR15,000 mark.

• USD/IDR 1-month NDF last -2 figs at IDR15,213, with bears setting their sights on the 100-DMA, which intersects at IDR14848. Bulls look for renewed gains past May 1, 2020 high of IDR15,502.
• Foreign names were net sellers of $89.83mn in local equities Monday, while the Jakarta Comp finished ~0.6% lower, due to a late-doors recovery. Indonesia's benchmark stock index resumed losses today and last deals ~0.5% worse off.
• Palm oil futures remain subdued after yesterday's drop, with the contract for December delivery last seen MYR55/MT lower on the day. The tropical oil struggles even as the aggregate Bloomberg Commodity Index has managed to find poise today.
• Indonesia's 5-Year CDS premium stabilises after an impressive surge over the past few days. IT last sits at 156bp, operating in the vicinity of Jul 15 cycle high of 166bp.
• Indonesia's state budget remained in surplus for the eight straight month in August, FinMin Indrawati said, adding that the gov't is aware of the potential slowdown in tax revenues.