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NDDFX Forex Broker > NDDFX Blog > Fundamental Forex Analysis > USD/IDR sits at multi-day tops, as Indonesia Q4 current account deficit widens to 2.84%
Rupiah remains pressured as Indonesia’s Q4 GDP disappoints with 4.97%
Fundamental Forex Analysis

USD/IDR sits at multi-day tops, as Indonesia Q4 current account deficit widens to 2.84%

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by Ken Robinson 10.02.2020

According to the latest data published by the Bank Indonesia (BI), the Indonesian central bank, the country’s current account deficit widened further in the fourth quarter of 2019.

Key Details

Indonesia reported an $8.1 billion (bln) current account deficit in October-December, equivalent to 2.84% of gross domestic product (GDP), from a 2.7% gap in the previous quarter.

Q4 2019 balance of payments at $4.3 bln, vs. -$0.05 bln in Q3.

Full-year 2019 balance of payments at $4.7 bln surplus vs. 2018’s deficit of $7.1 bln.

Full-year 2019 current account balance was -2.72% of GDP, vs revised 2.94% deficit in 2018.

USD/IDR sits at multi-day high

Amid growing China coronavirus concerns and widening Indonesia’s current account deficit, the Indonesian rupiah remains on the offers so far this Monday. USD/IDR trades at 13,717, having posted a new three-day high at 13,722.50 in the last minutes.

Markets look forward to the country’s Retail Trade report due later in the session ahead.

NDDFX Indonesian Site – new domain!

Access it at www.NDDFX-id.com

USD/IDR Technical levels to watch

 

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Tags:account China Current CurrentAccount deficit EconomicIndicator Forex Forecast forex news Fundamental analysis Indonesia multiday sits tops USDIDR widens
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Ken Robinson
A seasoned professional with more than 30 years’ experience in foreign exchange, interest rates and commodities, Ken Robinson is a senior market analyst with NDDFX, responsible for providing timely and relevant market commentary and live market analysis throughout the Asia-Pacific region. Having previously worked in Europe, since moving to Singapore he worked with several leading institutions including Bloomberg, Saxo Capital Markets and Informa Global Markets, proving FX strategies based on a combination of technical and fundamental analysis as well as market flow information. Andrew began his career as an FX dealer with NatWest and the Royal Bank of Scotland in the UK.
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