German Retail Sales drop 5.3% MoM in April vs. -12% expected, EUR/USD keeps 1.11
Fundamental Forex Analysis

Indonesian rupiah battles 14100 after Retail Sales plummet 16.9% YoY in April

Indonesia’s Retail Sales plunged by 16.9% on the year in April vs. a 4.5% drop seen in March, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Tuesday.

This was the biggest drop since November 2008.

The Bank Indonesia survey predicted sales in May to contract further by 22.9% YoY, Reuters reports.

FX Implications

The Indonesian Rupiah (IDR) keeps the offered tone intact against the US dollar at 14,100 on following a big slump in Indonesia’s Retail Sales. USD/IDR adds 0.36% on a daily basis.

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