๐๐จ๐ซ๐ง๐ข๐ง๐ ,
Morning,
The Jakarta Composite Index (JCI) today (1/31) is expected to trade in the range of ย 7,120 – 7,260 points to attempt higher with the support of bargain hunters.
Meanwhile, yesterday ย (1/30) on Wall Street, the DJIA closed higher by 134 points or 0.35% to 38,467 points, while the S&P500 and the Nasdaq Composite closed lower by 0.06% and 0.76%, respectively.
The Federal Reserveโs rate decision has been at the front minds of traders. The fed funds futures market has priced in a nearly 98% probability that the central bank will leave rates unchanged, implying the current relatively higher finance costs to stay longer.
The yield of the 10-year ย US ย Treasury note was lower by 3 basis points to ย 4.06%, while the yield on theย 2-year Treasury bond was higher by 1 ย basis point at 4.36%.
Yesterday, the WTI futures contract for March gained 1.35% to USD77.8/barrel, mainly on the latest upward revision of global growth for this year by the IMF, to an annual rate of 3.1% from 2.9% estimate in October.ย Meanwhile, the USDIDR closed at IDR15,796 vs. IDR15,825 the previous one.
Cheers,