JAKARTA (TheInsiderStories) – Good Morning! United States (US) treasury secretary, Steven Mnuchin, sent a letter to Federal Reserves to return money earmarked under the March’ pandemic relief act for emergency lending to businesses, nonprofits and local governments. Initially, the program end on Dec. 31 to stabilize the economy.
In Indonesia, the central bank (BI) has an agenda to releases balance of payment in the third quarter of 2020. While, Presiden Joko Widodo has schedule to attending virtual APEC Summit tonight.
On Thursday, the governors of central bank in East Asia and the Pacific who are members of EMEAP agreed on the importance of efforts to calibrate policies in the face of the challenges of the COVID-19 pandemic, which has brought big challenges to policy authorities. The governors support EMEAP to continue to play an active role in promoting regional cooperation in order to maintain financial stability and support economic recovery.
While, political dialogue under the Partnership and Cooperation Agreement between the European Union and Indonesia took place on Nov. 17. Both parties agreed on the opportunities presented by the ASEAN Outlook on the Indo – Pacific as a constructive effort to build trust and confidence.
The EU also welcomed the recent signing of the Regional Comprehensive Economic Partnership. On the COVID-19 pandemic, both delegations agreed to work closely on vaccine multilateralism ensuring access of vaccine to all and continue working together based on COVAX initiative.
From United Kingdom, Indonesian ministry of trade and the department for international trade held a third round of discussions. Both parties shared the same view on the importance of this Joint Trade Review, particularly during the challenging state of global pandemic.
On Thursday, Indonesian Rupiah weakened 0.60 percent to 14,155 per US Dollar and the Jakarta Composite Index (JCI) rose 0.66 percent to 5,594.06 compared to the previous day. According to analysts, the issue has affecting Indonesian financial market was the continuing surge in positive cases of the corona virus.
Another sentiment is BI decision to cut its benchmark rate to level of 3.75 percent from 4.00 percent. This move was also beyond market expectations, which previously predicted the central bank would still hold its rate.
With these various issues, they assess that the Rupiah will move in the range of 14,100 – 14,235 per US Dollar and JCI between 5,489 – 5,606. Stocks to be watch for today are PT Bank Central Asia Tbk (IDX: BBCA), PT Aneka Tambang Tbk (IDX: ANTM), PT Gudang Garam Tbk (IDX: GGRM), PT Unilever Indonesia Tbk (IDX: UNVR), and PT HM Sampoerna Tbk (IDX: HMSP).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia