USD/IDR hits daily highs on devastating Indonesia’s Q2 GDP. Coronavirus pandemic’s impact on the economy continues to worsen. According to the latest release from Statistics Indonesia, the Indonesian economy contracted 4.19% QoQ in Q2 2020 versus -3.49% forecast and -2.41% prior. On an annualized basis, Indonesia’s GDP rate arrived at -5.32% compared to -4.61% expected and 2.97% seen in the first quarter (Q1) 2020. About Indonesia’s GDP The Gross Domestic Product released by the Statistics Indonesia is a measure of the total value of all goods and services produced by Indonesia. The GDP is considered as a broad measure of economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the Rupiah, while a negative trend is seen as negative (or bearish). FX implications USD/IDR jumped to daily lows of 15,585 following the release of the below-forecast Indonesian GDP data. The cross ignored broad-based US dollar weakness. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Well bid above 1.1800, eyes on US ADP, stimulus talks FX Street 2 years USD/IDR hits daily highs on devastating Indonesia’s Q2 GDP. Coronavirus pandemic's impact on the economy continues to worsen. According to the latest release from Statistics Indonesia, the Indonesian economy contracted 4.19% QoQ in Q2 2020 versus -3.49% forecast and -2.41% prior. On an annualized basis, Indonesia’s GDP rate arrived at -5.32% compared to -4.61% expected and 2.97% seen in the first quarter (Q1) 2020. About Indonesia’s GDP The Gross Domestic Product released by the Statistics Indonesia is a measure of the total value of all goods and services produced by Indonesia. The GDP is considered as a broad measure of economic activity and health. Generally speaking,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
