The JCI April 25, 2024
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𝐀𝐩𝐫𝐢𝐥 𝟐𝟓, 𝟐𝟎𝟐𝟒
- 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟎𝟎 – 𝟕,𝟐𝟕𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟕𝟓 𝐩𝐨𝐢𝐧𝐭𝐬)
- 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐚𝐥𝐦𝐨𝐬𝐭 𝐮𝐧𝐜𝐡𝐚𝐧𝐠𝐞𝐝, 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐰𝐞𝐫𝐞 𝐨𝐧 𝐜𝐚𝐮𝐭𝐢𝐨𝐮𝐬 𝐦𝐨𝐝𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐮𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐤𝐞𝐲 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐝𝐚𝐭𝐚 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)
- 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞
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Morning,
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The Jakarta Composite Index (JCI) today (4/25) is expected to trade in the range of 7,100 – 7,270 points to attempt higher with the support of bargain hunters.
Today, the JCI is expected to be supported by, also a prostability move from the central bank Bank Indonesia which decided to increase its policy rate by 25 basis points to 6.25% yesterday.
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Meanwhile, yesterday (4/24) on Wall Street, the DJIA closed lower by 43 points or 0.11% to 38,461 points. The S&P500 and the Nasdaq Composite closed higher by 0.02% and 0.109%, respectively.
Economists surveyed by Dow Jones expect the US economy to grow at a 2.4% annualized pace in the first quarter (GDP release on Thursday), while consensus Wall Street estimates forecast the PCE inflation rate (PCE Index release on Friday) was 2.6% in March.
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Yesterday, the yield of the 10-year US Treasury climbed 4 basis points to 4.644%. The 2-year Treasury yield edged up 1 basis point to 4.929%.
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Yesterday, the US West Texas Intermediate futures for June settlement, closed lower by 0.7% at USD82.81 /barrel, mainly on supply-side sentiments of the sector. Meanwhile, the USDIDR closed at IDR16,161 vs. IDR16,244.
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Cheers,
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