USD/IDR Price News: Rupiah pares intraday losses near $13,350 on upbeat Indonesia Inflation

• USD/IDR retreats from intraday high but stays firmer on D1 for the first time in three days.
• Indonesia's Inflation rose past market consensus and prior to 2.18% in January.
• Indonesia removes ban on coal exports, sets date for Bali tourism reopening.
• US ADP Employment Change, risk catalysts will be important for fresh impulse.

USD/IDR struggles to extend early Asian session gains around $14,340 after strong Indonesia inflation figures.

With this, the Indonesia rupiah (IDR) bulls can bargain with the sellers as the pair rejects the previous two-day downtrend.

That said, Indonesia Inflation rose past 2.15% market consensus and 1.87% prior to 2.18% YoY during January. Further, Core Inflation also improved to 1.84% versus 1.71% expected and 1.56% previous readouts.

Other than the upbeat Indonesia data, easing coal emergency in the world’s top exporters of thermal coal joins reopening of the island of Bali for foreign tourists from February 04 to keep USD/IDR bears hopeful.

Additionally, downbeat US Treasury yields and the US Dollar Index (DXY) also favor USD/IDR sellers ahead of the key the US ADP Employment Change for January, expected 207K versus 807K prior.

Technical analysis

Although a three-week-old resistance line near $14,420 restricts USD/IDR buyers, the 200-day EMA defends the upside momentum, around $14,327 by the press time.