JAKARTA (TheInsiderStories) - Good Morning! Bank Indonesia has an agenda to announces the latest foreign exchange reserves today. While, United States (US) Federal Open Market Committee held its short-term benchmark rate at 0.25 percent.
Still from US, the race between Joe Biden and Donald Trump narrowed ever so slightly with an additional vote count released in Nevada. Bidden closer to the White House and just needs six more electoral college votes to clinch his win, despite lawsuits filed by Trump’ legal teams to stop the counting of votes in Pennsylvania and Georgia and requested a recount in Wisconsin.
In Europe, Bank of England boosts quantitative easing program by more than expected. The central bank expanded the envelope of its asset purchases by GBP150 billion (US$197.37 billion), or around 7 percent of Britain’ GDP. Its expected the economy to contract in the fourth quarter and to face extra headwinds at the start of next year from the end of the post-Brexit transition phase.
And, the European Commission expects the block’ economy to shrink by 0.1 percent in the fourth quarter due to the pandemic. This year’ economic contraction will be smaller than 7.8 percent and its expects the rebound next year to 4.2 percent.
In Asia, Japan’ newly-appointed finance minister Taro Aso said, the Group of 20 finance leaders will discuss debt relief for emerging nations at their meeting on Nov. 13. He asserted, fair burden among lenders is important in addressing emerging nations’ debt woes.
Yesterday, Indonesian Rupiah strengthened 0.14 percent to 14,565 against the US Dollar and the Jakarta Composite Index (JCI) jumped 3.04 percent to 5,260.32 compared to the previous day. According to analysts, one of the drivers of Indonesia’ financial markets today is the market’ appreciation of Biden’ chances to winning the US election.
Domestically, the release of Indonesia’ GDP figures for the third quarter of 2020 gives hope for an improvement in the economy even still in the minus zone. Investors, said them, responded rationally the country would go into a recession after economic growth contracted in three quarters.
With all this information they rated, the JCI move in the range 5,180 - 5,280 and Rupiah between 14,330 and 14,420 over the Greenback. Stocks to be watch for todaya re PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Telkom Indonesia Tbk (IDX: TLKM), PT Unilever Indonesia Tbk (IDX: UNVR), PT Wijaya Karya Tbk (IDX: WIKA), PT Bank Negara Indonesia Tbk (IDX: BBNI), and PT Bukit Asam Tbk (IDX: PTBA).
US$1: GBP0.76
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
