JAKARTA (TheInsiderStories) – Good Morning! United States (US) President Donald Trump has sent a resignation letter to the World Health Organization (WHO). With this letter, the country will effectively leave the organization starting next year.
The United States has the highest known numbers of COVID-19 cases and deaths in the world. Adding to the cautious tone, three Federal Reserves officials expressed concern that the surge in infections threatens to pinch consumer spending and job gains just as some stimulus programs are set to expire.
From Europe, German industrial production was reported risen to 7.8 percent in May when the engine of the economy lifted most of the restrictive measures aimed at curbing the spread of COVID-19 cases.
In Indonesia, the House of Representatives is currently also drafting a Reciprocal Assistance Agreement in Criminal Matters between the country and the government of Switzerland. This regulation will become a legal umbrella for repatriation of funds parked in Swiss banks to the country.
While, Bank Indonesia (BI) has an agenda to releases the position of Retail Sales Survey report for May 2020. And, President Joko Widodo received the leaders of the People’ Consultative Assembly at the Bogor Palace.
On Tuesday, Indonesian Rupiah rose 0.35 percent to 14,490 per US Dollar and the Jakarta Composite Index (JCI) closed down 0.04 percent to 4,987.08 compared to previous day. For today, the analysts rated, both instruments to weaken due to market concerns over the global transmission of the COVID-19 disease, including Indonesia.
They assess, the Indonesian economy is still vulnerable and the market needs evidence of data improvement in economic indicators in Indonesia to boost the rate of exchange. From global, the tenses between US and China are heating up and making investors wary about Trump’ accusations about spreading viruses, digital security issues, and Hong Kong security law issues.
This tension is feared to spread to trade affairs that could disrupt the global economy. They consider there is a possibility that the Rupiah will return to Rp15,000 if the negative sentiments continue to accumulate.
They added, a series of stimulus from the government and BI in the short term could provide positive sentiment towards the rupiah. The Rupiah its estimating move between 14,410 to 14,490 over the Greenback and the JCI is between 4,940 – 5,020.
Stocks to watch for today are PT HM Sampoerna Tbk (IDX: HMSP), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Gudang Garam Tbk (IDX: GGRM), PT Bank Central Asia Tbk (IDX: TLKM), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Aneka Tambang Tbk (IDX: ANTM), PT Medco Energi International Tbk (IDX: MEDC), PT Bank Mandiri Tbk (IDX: BMRI), and PT Unilever Indonesia Tbk (IDX: UNVR).
May you have a profitable Day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our News to Get More information about Indonesia