JAKARTA (TheInsiderStories) - Good Morning! United States (US) treasury yields notched their biggest drop since end of last year, even as March retail sales data came in much better than expected and jobless claims fell. The benchmark of the 10-years note has fallen nearly 20 basis points in this month ended at 1.526 percent on Thursday.
US reported the retail sales skyrocketed in March to 9.8 percent after falling to 6.9 percent in February as the stimulus check landed. The less volatile series of core retail sales also rose by 8.4 percent. While, the initial jobless claims fell much further than expected to 576,000 last week from earlier at 759,000.
While, rising tensions between the US, Russia and China could also be bringing some buyers back into the treasury market as a safe haven. On Thursday, President Joe Bidden has give a sanctions on Russia and diplomatic expulsions, punishing Moscow for its interference in the 2020 presidential election.
The announcement is one of a series of dramatic foreign policy steps that Biden administration has taken in this week. Along with his decision to withdraw all troops from Afghanistan and send an unofficial delegation to Taiwan to express support for its democracy and security.
He has signaled what may be a turn toward a tougher, more pragmatic global posture for the US. Japanese Prime Minister Yoshihide Suga becomes the first foreign leader to visits the White House and is schedule to meet Biden on Friday. Its expecting China to be high on the list of agenda topics between the two leaders.
Today, China’ GDP data out along with March factory output, retail sales and fixed-asset investment. In Indonesia, the cabinet reshuffle issues became an headline after end of last year Presiden Joko Widodo’ replaced five ministers.
Yesterday, Indonesian Rupiah weakened 0.08 percent to 14,615 versus the US Dollar and the Jakarta Composite Index (JCI) rose 0.48 percent to 6,079.50 compared to the previous day. The analysts assessed that after the release of Indonesia’ trade balance, now investors to pay close attention on the US economic data as well as industrial data and economic growth data from China.
Negative sentiment also came from the news a number of countries that stopped distribution of Johnson & Johnson vaccines. With this information, the Rupiah is expected to move in the range of 14,550 - 14,700 per US dollar and the JCI is between 6,000 - 6.200.
Stocks to be watch for today are PT Bank Centra Asia Tbk (IDX: BBCA), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Chandra Asri Petrochemical Tbk (IDX: TPIA), PT Telkom Indonesia Tbk (IDX: TLKM), PT Bank Mandiri Tbk (IDX: BMRI), PT Unilever Indonesia Tbk (IDX: UNVR), PT Kalbe Farma Tbk (IDX: KLBF), PT Elang Mahkota Technology Tbk (IDX: EMTK), and PT Sarana Menara Tower Tbk (IDX: TOWR).
May you have a profitable Day!
Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia
