The JCI April 19, 2022

𝐀𝐩𝐫𝐢𝐥 𝟏𝟗, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟐𝟒𝟎𝐩𝐭 – 𝟕,𝟑𝟒𝟎𝐩𝐭 ( 𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟕𝟓𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐦𝐢𝐥𝐝𝐥𝐲 𝐥𝐨𝐰𝐞𝐫 𝐚𝐬 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐚𝐫𝐞 𝐢𝐧 𝐦𝐨𝐧𝐢𝐭𝐨𝐫 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐰𝐞𝐞𝐤’𝐬 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐥𝐢𝐬𝐭𝐞𝐝 𝐜𝐨𝐮𝐧𝐭𝐞𝐫𝐬, 𝐚𝐧𝐝 𝐫𝐞𝐥𝐞𝐚𝐬𝐞𝐬 𝐭𝐨 𝐝𝐚𝐭𝐞 𝐡𝐚𝐯𝐞 𝐠𝐞𝐧𝐞𝐫𝐚𝐥𝐥𝐲 𝐠𝐢𝐯𝐞𝐧 𝐩𝐨𝐬𝐢𝐭𝐢𝐯𝐞 𝐬𝐮𝐫𝐩𝐫𝐢𝐬𝐞𝐝 𝐨𝐧 𝐚 𝐥𝐨𝐰-𝐛𝐚𝐫 𝟏𝐐𝟐𝟐 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (4/19) is expected to trade between 7,240pt – 7,340pt  to attempt higher and supported by bargain hunters.  The JCI yesterday was supported also by the release Indonesia trade data for March, of a net surplus of USD4.53bn (historical high) vs. expectation USD2.97bn (February: USD3.95bn).

 The JCI today is expected to receive announcement on the latest monetary policy stance from the central bank Bank Indonesia (BI)  after the completion of its two-day Board-of-Governor April meeting. Majority of economists, as quoted from the media,  predict that BI to keep the reference BI-7DRRR unchanged at 3.5%, on the ground of stable exchange rate USDIDR, mild inflation rates, and higher commodity prices.

Wall Street yesterday  (4/18) ended with the DJIA closed lower by 40pt or 0.1 % to 34,451pt, meanwhile the S&P500 and Nasdaq closed lower by 0.0% and 0.1%, respectively. At the other end, the yield of the benchmark 10-year Treasury notes rose to close higher by 4bp to 2.85%, a level not seen in more than three years, as investors assess rising inflation.

Yesterday  the WTI  price closed higher by 0.8% to USD107.9/barrel against the previous close, mainly on supply worries as news broke about outages in Libya to add to the current commodity turmoil. Meanwhile, the USDIDR closed  at IDR14,356  vs. IDR14,349 the previous one.

Cheers,