USD/IDR: Rupiah hits three-day highs post-Indonesian trade data

According to the latest trade data published by the Indonesian Statistics Bureau, the country unexpectedly posted a trade surplus in October.

Indonesia reported a trade surplus of $0.16 billion vs. $-0.28 billion expected and $-0.16 billion previous. The imports and exports came in at -16.39% and -6.13% respectively vs. -16.00% and -8.38% expectations and -2.4% and -5.73% respective priors.

The median forecast from economists was for a $0.28 trade deficit last month, the Reuters poll showed last week.

The unexpected trade surplus reported rescued the Indonesian Rupiah versus the US dollar, sending the USD/IDR cross to three-day lows of 14,055.