JAKARTA (TheInsiderStories) - Today, the statistics bureau has an agenda to announces export and import data for last month. In November, Indonesia’ trade balance is predicted records a surplus again after gained US$3.61 billion in October supported by the strengthening commodity prices for coal and crude palm oil.
The economist projects that the trade balance will be a surplus around $3 billion, or fell slightly from than previous month. While, local media reported Surabaya’ major Tri Rismaharini is a strong candidate to become social minister in Joko Widodo’ cabinet.
In addition, the government has raised its target of providing the COVID-19 vaccine for free to 53.5 million people from just 32 million people earlier, after public outrage in social media about the government’ earlier decision to sell the vaccine. The nation is the only country among the world’ most populous democracies that decided to commercialize the vaccine.
India, the United States (US), and Brazil decided to give the vaccine for all at no cost. The government targets to vaccinate 107 million people or about 67 percent of the total population in the age group of 167 million people.
In Asia, China will issue its monthly data today and Singapore plans to ease the restriction on Dec. 28. The country will get the first shipments of Pfizer-BioNTech vaccine by end-December and there will be enough vaccines for all by third quarter of 2021.
While, South Korea and Japan grappled with a growing number of coronavirus cases, increasing pressure on authorities and undermining support for the leaders of the two countries. For the first time, Japan saw nearly 3,000 new infections end of last week.
From the US, the Federal Open Meeting Committee meeting starts their two days meeting starting today before make a decision on Dec. 16. The market is assuming the central bank will merely refine its forward guidance on policy.
The country has reported about 16 million total COVID-19 cases, with rising deaths in recent days taking the tally above 300,000. Fears, US’ government could be set for further restrictions in the coming weeks.
On the stimulus aid, the lawmakers have proposed to split the US$908 billion package into two parts, a $748 billion proposal to support aid for vaccine distribution and unemployed benefits, and $160 billion bill for state and local support and temporary COVID-19 liability protection.
Yesterday, Indonesian Rupiah fell 0.11 percent to 14,095 per US Dollar and the Jakarta Composite Index (JCI) strengthened 1.25 percent to the level of 6,012.516. The analysts believed that the weakening of the local currency is influenced by the strengthening of the Greenback against major currencies.
They assess that Brexit sentiment will still be one that market players are watching. In addition, the continuation of the vaccination program and the agreement on the US’ fiscal stimulus package will also be a driving force for trade sentiment.
The market are also anticipating the Federal Reserve’ view of the economic prospects and further policies regarding the quantitative easing program in the two-days meeting. The development of the handling of the pandemic is also estimated to be a positive catalyst for the market.
Domestically, the investors will be watching the release of November’ trade balance data. In addition, Bank Indonesia is also expected to maintain its benchmark interest rate at the level of 3.75 percent at this month’ meeting.
With this information, the Rupiah is projected to move in the range of 14,075 - 14,175 per US Dollar and the JCI is between 5,930 - 6,065. Stocks to be watch for today are PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Tabungan Negara Tbk (IDX: BBTN), PT Wijaya Karya Tbk (IDX: WIKA), PT United Tractors Tbk (IDX: UNTR), PT Telkom Indonesia Tbk (IDX: TLKM), PT Unilever Indonesia Tbk (IDX: UNVR), PT Semen Indonesia (IDX: SMGR), and PT Indofood Sukses Makmur Tbk (IDX: INDF).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
