Statistics Indonesia (BPS) recorded a trade balance surplus of USD 4.3 billion, or a total calendar year surplus of USD 23.5 billion. Meanwhile, the surplus this time was still supported by the increase in export commodity prices, which boosted the rupiah appreciation. After the announcement of the trade balance surplus, the rupiah moved closer to the psychological level of IDR 14,000/USD, or better than the previous day of IDR 14,208/USD. Furthermore, rupiah appreciation was in line with the UST10Y yield which continued to decline after touching the high of 1.6%. UST10Y Yield fell after US producer inflation data was recorded at 0.5% MoM and 8.6% YoY. This figure is lower than the market consensus of 0.6% MoM and 8.7% YoY.
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