The JCI November 2, 2022

𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟗𝟎𝐩𝐭 – 𝟕,𝟏𝟐𝟎𝐩𝐭 ( 𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟓𝟐𝐩𝐭 )

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟎.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐚𝐫𝐞 𝐚𝐰𝐚𝐢𝐭𝐢𝐧𝐠 𝐚 𝐤𝐞𝐲 𝐩𝐨𝐥𝐢𝐜𝐲 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤 𝐭𝐡𝐞 𝐅𝐞𝐝 𝐭𝐨𝐝𝐚𝐲

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

Morning,

 The Jakarta Composite Index (JCI) today (11/2) is expected to trade between 6,990pt – 7,120pt to attempt higher being supported by bargain hunters.  

Meanwhile, yesterday  (11/1) Wall Street ended with the DJIA closed lower by 80 points or 0.2% to 32,653pt, while the S&P500 and the Nasdaq closed lower by 0.4% and 0.9%, respectively.

While traders on Wall Street yesterday seemed to price in the widely-expected another 75 basis points increase in the policy rate today, market participants are in cautious monitoring for hints on the Fed’s next move.

The 10-year US Treasury yield, meanwhile, fell by 2 basis points at 4.04% yesterday, and the yield on the policy-sensitive 2-year Treasury rose by 6  basis points to 4.547%.

Yesterday, the price of  WTI crude rose by 2%, to USD88.3 a barrel, mainly on the expectation of more demand along with the news that China, the world’s second-largest oil consumer, could reopen from strict COVID curbs. Meanwhile, the USDIDR  closed at  IDR15,647 vs. IDR15,596  the previous one.

Cheers,