JAKARTA (TheInsiderStories) - Good Morning! On the last day of 2020, various decisions has been made by countries and organizations. As an example, Indonesian government announced a shock decision ban the activities and use of symbols and attributes as well as to cease activities of the Islamic Defenders Front.
The senior minister for politics, law and security, Mahfud MD, the joint decree comes into force on the date of stipulation. While, European Union (EU) and United Kingdom (UK) officially signed the Brexit deal after discussed for years.
The block also signed a trade agreement with China. The Comprehensive Agreement on Investment will grant substantial market access to EU-investors and creates a better balance in EU - China trade relations.
In Asia, China’ National Bureau of Statistics reported the Purchasing Manager’ Index fell to 51.9 in December from 52.1 in November. While, Pending Home Sales Index, dropped 2.6 percent to previous month at 125.7. Compared with a year ago, pending home sales jumped 16.4 percent in November and sales of existing homes declining for the first time in six months.
In the United States (US), Donald Trump’ administration increasing tariffs on certain EU products, including aircraft-related parts and wines from France and Germany, amid an ongoing civil aircraft dispute between Washington and Brussels. Trade representative office said it was adding tariffs on aircraft manufacturing parts and certain non-sparkling wines as well as cognacs and other brandies from both countries.
In addition, US also banned imports of palm oil from Malaysian producer Sime Darby Plantation over allegations of forced labour in the production process, the customs and border protection. The ban, which is seen as a leader in sustainably-produced palm oil, could further hurt an industry that has faced mounting allegations of labour and human rights abuses.
No transactions today in Indonesian financial market. Yesterday, Indonesian Rupiah closed up 0.57 percent to 14,050 per US Dollar and the Jakarta Composite index slumped 0.95 percent to 5,979.07 from the previous day. Throughout this year the stock index fell 5.09 percent and the local currency weakened 1.33 percent compared to 2019.
Some analysts rated, both transactions influenced by the prospect of fiscal stimulus in the US, which is planned to slide next year. In addition, the presence of the stimulus would make American Dollar liquidity abundant in global financial markets.
While, the news about Senate’ majority leader Mitch McConnell delaying the vote to increase the amount of US stimulus. He delayed the vote to increase the amount of the stimulus check from US$600 to $2,000.
In the country, the sentiment that was quite influential on the movement of the two was the news that the Indonesian government had successfully signed a vaccine contract from AstraZeneca and Novavax each for 50 million doses.
With those various information, the Rupiah is estimated to move in the range of 13,950 to 14,050 compared to the Greenback.
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
