Ahead of the FOMC Meeting, the Rupiah Weakens Against the US Dollar
FaktaId. The rupiah exchange rate traded between banks in Jakarta on Friday (12/14/2018) morning fell 55 points to Rp14,554 compared to the previous position of Rp14,499 per US dollar.
While the rupiah exchange rate movements on Thursday, the afternoon strengthened by 102 points to Rp14,499 compared to the previous Rp14,601 per US dollar.
Head of Monex Investindo Futures Research, Ariston Tjendra in Jakarta, said money market players tend to take a "wait and see" position ahead of the Federal Open Market Committee (FOMC) meeting on December 18-19.
"Although the level of confidence in the Fed's rate hike is declining, it cannot be assumed that the Fed does not raise interest rates, which makes the market position 'wait and see' transactions in risky currency assets tend to decline," he said.
On the other hand, he continued, the market was also still overshadowed by the turmoil of a trade war even though at this time the relative tension had begun to subside.
"A trade war is expected to continue until 2019," he said.
In addition, he continued, the US dollar was also supported by increased employment data in the United States, so that opportunities for US economic growth were quite open.
Samuel Aset Manajemen economist Lana Soelistianingsih added, this morning Asian currencies such as the Hong Kong dollar and the Singapore dollar moved lower against the US dollar, which was a negative sentiment for the rupiah.
"Nevertheless, the movement of the rupiah is still under Bank Indonesia's safeguards so that the fluctuations are relatively stable," he said.
JCI Today
The Indonesia Stock Exchange (IDX) composite stock price index (IHSG) on Friday opened slightly higher along with the lack of certainty of global issues.
The IDX Composite Index opened higher 1.97 points or 0.03 percent to 6,179.69. While the 45 leading stocks or the LQ45 index moved up 0.15 points or 0.02 percent to 987.37.
"Diverse external and domestic sentiments make the JCI movement tend to be limited," said Head of Research Valbury Sekuritas, Alfiansyah in Jakarta.
He stated that regarding the sentiments granted the release of detention of Huawei officials had become a positive market outlook because it was the reason for the US and China trade war would reach further agreement.
However, he continued, the euphoria tended to begin to subside, and the market focus shifted to other factors, such as chaotic Britain leaving the European Union and US economic data that would be released in the near future.
"The challenge of the Indonesian capital market is the uncertainty of global issues," he said.
From within the country, he said, investors would look at the trade balance data which was due to be released next week.
While the rupiah exchange rate movements on Thursday, the afternoon strengthened by 102 points to Rp14,499 compared to the previous Rp14,601 per US dollar.
Head of Monex Investindo Futures Research, Ariston Tjendra in Jakarta, said money market players tend to take a "wait and see" position ahead of the Federal Open Market Committee (FOMC) meeting on December 18-19.
"Although the level of confidence in the Fed's rate hike is declining, it cannot be assumed that the Fed does not raise interest rates, which makes the market position 'wait and see' transactions in risky currency assets tend to decline," he said.
On the other hand, he continued, the market was also still overshadowed by the turmoil of a trade war even though at this time the relative tension had begun to subside.
"A trade war is expected to continue until 2019," he said.
In addition, he continued, the US dollar was also supported by increased employment data in the United States, so that opportunities for US economic growth were quite open.
Samuel Aset Manajemen economist Lana Soelistianingsih added, this morning Asian currencies such as the Hong Kong dollar and the Singapore dollar moved lower against the US dollar, which was a negative sentiment for the rupiah.
"Nevertheless, the movement of the rupiah is still under Bank Indonesia's safeguards so that the fluctuations are relatively stable," he said.
JCI Today
The Indonesia Stock Exchange (IDX) composite stock price index (IHSG) on Friday opened slightly higher along with the lack of certainty of global issues.
The IDX Composite Index opened higher 1.97 points or 0.03 percent to 6,179.69. While the 45 leading stocks or the LQ45 index moved up 0.15 points or 0.02 percent to 987.37.
"Diverse external and domestic sentiments make the JCI movement tend to be limited," said Head of Research Valbury Sekuritas, Alfiansyah in Jakarta.
He stated that regarding the sentiments granted the release of detention of Huawei officials had become a positive market outlook because it was the reason for the US and China trade war would reach further agreement.
However, he continued, the euphoria tended to begin to subside, and the market focus shifted to other factors, such as chaotic Britain leaving the European Union and US economic data that would be released in the near future.
"The challenge of the Indonesian capital market is the uncertainty of global issues," he said.
From within the country, he said, investors would look at the trade balance data which was due to be released next week.
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