The January 29, 2024

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟐𝟗, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕, 𝟎𝟗𝟎 – 𝟕,𝟐𝟏𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟑𝟕 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐛𝐫𝐨𝐚𝐝𝐞𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟑% 𝐚𝐥𝐨𝐧𝐠 𝐦𝐨𝐫𝐞 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝  𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤 𝐭𝐨 𝐤𝐞𝐞𝐩 𝐭𝐡𝐞 𝐩𝐨𝐥𝐢𝐜𝐲 𝐫𝐚𝐭𝐞 𝐮𝐧𝐜𝐡𝐚𝐧𝐠𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝐦𝐞𝐞𝐭𝐢𝐧𝐠

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐈𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

Morning,

The Jakarta Composite Index (JCI) today (1/29) is expected to trade in the range of  7,090 – 7,210 points to attempt higher with the support of bargain hunters.

Meanwhile, on Friday last week  (1/26) on Wall Street, the DJIA closed higher by 60 points or 0.16% to 38,109 points, while the S&P500 and the Nasdaq Composite closed lower by 0.07% and 0.36%, respectively.

The US Commerce Department’s personal consumption expenditures price index for December, an important gauge for the Federal Reserve, increased 0.2% on the month and was up 2.9% on a yearly basis, excluding food and energy. Economists surveyed by Dow Jones had been looking for respective increases of 0.2% and 3%.

The yield of the 10-year  US  Treasury note was higher by 1 basis point to  4.14%, while the yield on the 2-year Treasury bond gained 5  basis points at 4.357%.

Last week, the WTI futures contract for March closed higher by 0.84% to USD78.01/barrel, mainly on demand prospects along with the release of stronger-than-expected US economic growth in the 4Q23.  Meanwhile, the USDIDR closed at IDR15,829 vs. IDR15,767 the previous one.

Cheers,