The JCI January 25, 2023

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟐𝟓, 𝟐𝟎𝟐𝟑

*  𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟎𝟎𝐩𝐭 – 𝟔,𝟗𝟐𝟎𝐩𝐭   (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟔𝟏𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐭𝐞𝐜𝐡-𝐡𝐞𝐚𝐯𝐲 𝐍𝐚𝐬𝐝𝐚𝐪 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝟎.𝟑%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐝𝐫𝐢𝐯𝐞𝐧 𝐛𝐲 𝐭𝐡𝐞 𝐥𝐚𝐜𝐤𝐥𝐮𝐬𝐭𝐫𝐞 𝐠𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐛𝐚𝐬𝐞𝐝 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐌𝐢𝐜𝐫𝐨𝐬𝐨𝐟𝐭

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

Morning,

The Jakarta Composite Index (JCI) today (1/25) is expected to trade between 6,800pt– 6,920pt to hold ground.  The JCI today is expected to be supported by the latest appreciation of USDIDR into below the IDR15,000 psychology level.

Yesterday (1/24) on Wall Street, the DJIA closed higher by 104  points or 0.3% to 33,734pt, while the S&P500 and the Nasdaq closed lower by 0.1% and 0.3%, respectively. Traders are also in monitor for the release of the preliminary estimate of the US GDP data for the 4Q22, scheduled to be on Thursday (1/26). The US fourth quarter GDP data is expected to provide lesser uncertainties concerning the pace of the country’s rate hike in the next FOMC meeting (2/1).

The 10-year US Treasury yield yesterday fell by 7 basis points at 3.456%, and the yield on the policy-sensitive 2-year Treasury was trading lower by 3 basis points at 4.21%.

Yesterday, the price of WTI fell by 1.2% to USD80.7/ barrel, mainly on fear of recession along with the US latest business activities’ indicators.   The USDIDR closed at  IDR14,930 vs. IDR15,121 the previous one.

Cheers,