JAKARTA (TheInsiderStories) - Good Morning! Crude oil prices hit US$60 a barrel for the first time in 2021 supported by President of United States (US) Joe Biden’ tough-sounding words on Iran. The statement took the edge off fears for a quick resumption and ramp-up of Iranian oil exports.
In one interview, he said wouldn’t lift sanctions on Iran to bring it back to the negotiating table with regard to its nuclear fuel enrichment. On Monday, London’ Brent crude up 0.9 percent to $60.07 a barrel and New York Mercantile crude futures jumped 1.2 percent to $57.52 a barrel.
Bidden also said that the his ready for “extreme competition” with China in the next four years. He appeared to suggest that the policy toward China focus on the international rules.
While, treasury of state, Janet Yellen, stated the US labor market would recover in 2022 if the government rolled out a strong enough stimulus package and slowdown in the infection rate paved the way for risky asset expectations. On the COVID-19 progress, new infections in US fell to under 100,000 for the first time in nearly three months.
On the downside, AstraZeneca reported its vaccine had limited efficacy against the new variant of the virus first identified in South Africa. In addition, Donald Trump to face the country’ most historic impeachment trial today. He has been accused of inciting mobs to storm the Capitol and demanding an end to passing the presidential election by Congress.
From Europe, in response meeting of European Union yesterday, agreed to further boosting research with the organization funds, ramping up sequencing to detect new variants, working with companies to expand vaccine manufacturing at scale, bio-defense preparedness, and supporting their partners via COVAX and donations to produce the vaccines. As reported a total EUR1.8 trillion (US$1.35 trillion) was prepared to rebuild a post-COVID-19 in the block.
In Indonesia, the government cut its economic growth target this year in line with high economic uncertainty due to the pandemic. According to deputy finance minister, Suahasil Nazara, in this year the economic growth will be in the range of 4.5 - 5.3 percent, lower than the previous estimated around 4.5 - 5.5 percent.
While, the International Monetary Fund predicted that the ratio of government debt to gross domestic product this year will reach a range of 43.1 percent. On Monday, good news from US has made Indonesian Rupiah strengthened 0.20 percent to 14,002 over the Greenback.
Then, the Jakarta Composite Index (JCI) strengthened 0.93 percent to 6,208.87 compared to the previous day. The analysts rated, the strengthening of the two was bolstered by positive sentiment that pushed investors back into riskier assets such as stocks.
This also coincided with the release of the US employment data, Non-Farm Payrolls for January, which was below market expectations. The data boosted the release of $1.9 trillion in fiscal stimulus needed for US economic recovery.
With that various information, the Rupiah is expected to move in the range 13,950 - 14,050 and JCI between 6,184 - 6,228 on Tuesday. Stocks to be watch for today are PT Medco Energi Internasional Tbk (IDX: MEDC), PT AKR Corporindo Tbk (IDX: AKRA), PT Timah Tbk (IDX: TINS), PT Aneka Tambang Tbk (IDX: ANTM), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), and PT Bank Central Asia Tbk (IDX: BBCA).
Then, PT Barito Pacific Tbk (IDX: BRPT), PT Unilever Indonesia Tbk (IDX: UNVR), PT Adhi Karya Tbk (IDX: ADHI), PT London Sumatera Indonesia Tbk (IDX: LSIP), PT PP Tbk (IDX: PTPP), and PT Waskita Karya Tbk (IDX: WSKT) stocks.
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
