The JCI April 3, 2024
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𝐀𝐩𝐫𝐢𝐥 𝟑, 𝟐𝟎𝟐𝟒
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- 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟔𝟎 – 𝟕,𝟐𝟖𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 ( 𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟑𝟕 𝐩𝐨𝐢𝐧𝐭𝐬)
- 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟗%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐭𝐨 𝐩𝐫𝐢𝐜𝐞 𝐨𝐮𝐭 𝐭𝐡𝐞 𝐞𝐚𝐫𝐥𝐢𝐞𝐫 𝐚𝐬𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐭𝐢𝐦𝐢𝐧𝐠 𝐨𝐟 𝐢𝐧𝐢𝐭𝐢𝐚𝐥 𝐫𝐚𝐭𝐞 𝐜𝐮𝐭 𝐛𝐲 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤
- 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 (4/3) is expected to trade in the range of 7,160 – 7,280 points to attempt higher with the support of bargain hunters.
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Meanwhile, yesterday (4/2) on Wall Street, the DJIA closed lower by 397 points or 1.0% to 39,170 points. The S&P500 and the Nasdaq Composite closed lower by 0.72% and 0.95%, respectively. The release of the ISM manufacturing index reduced the expectation of the Fed’s first rate cut in the June meeting to 62% now, vs.64% a week ago, as implied by the Fed futures pricing by the CME FedWatch Tool.
Yesterday, the yield of the 10-year US Treasury rose by 3 basis points to 4.355%. The 2-year Treasury yield fell 2 basis points at 4.49%.
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Yesterday, the US West Texas Intermediate futures for May settlement, closed higher by 1.72% at USD85.15 /barrel, mainly on supply-side concerns along with the latest US weekly crude oil inventories data that showed a decline of 2.3mn barrels, higher than the consensus estimate of a drop of 1.5mn barrel. Meanwhile, the USDIDR closed at IDR15,934 vs. IDR15,909.
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Cheers,