The JCI June 15, 2023

𝐉𝐮𝐧𝐞 𝟏𝟓, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟔𝟓𝟎𝐩𝐭 – 𝟔,𝟖𝟎𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟕𝟎𝟎𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟒%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐧𝐞𝐰𝐬 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤 𝐭𝐡𝐞 𝐅𝐞𝐝𝐞𝐫𝐚𝐥 𝐑𝐞𝐬𝐞𝐫𝐯𝐞 𝐬𝐤𝐢𝐩𝐬 𝐭𝐡𝐞 𝐩𝐨𝐥𝐢𝐜𝐲 𝐫𝐚𝐭𝐞 𝐡𝐢𝐤𝐞 𝐭𝐡𝐢𝐬 𝐦𝐨𝐧𝐭𝐡, 𝐚𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝

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

Morning,

The Jakarta Composite Index (JCI) today (6/15) is expected to trade between 6,650pt–6,800pt to attempt higher and be supported by bargain hunters. The JCI is expected also to be supported by the release of Indonesia’s trade data for May.

Meanwhile, yesterday (6/14) on Wall Street, the DJIA closed lower by 233 points or 0.7% to 33,979pt, while the S&P500 and the Nasdaq closed higher by 0.0% and 0.4%, respectively.

During the media release following the completion of June’s FOMC, Fed Chairman Jerome Powell said he doesn’t see a rate cut until inflation comes down meaningfully and significantly, and that can take a couple of years.

 The 10-year US Treasury yield fell by 4 basis points to 3.80%.  The yield on the 2-year Treasury rose by 1 basis point at 4.705%.

Yesterday, the price of WTI closed lower by 1.7% to USD68.3/ barrel, mainly on the supply side along with the latest data of the US weekly crude inventories, +8mn barrels vs. -0.5mn barrels of estimate  Meanwhile, the USDIDR closed at IDR14,805 vs. IDR14,868 the previous one.

Cheers,