JAKARTA (TheInsiderStories) – Good Morning! Worries over the COVID-19 spiked again as statistics showed more than 30 million infected people worldwide. British Prime Minister Boris Johnson was pondering a second national lockdown as the positive cases registered over 37,000 deaths from nearly 340,000 cases. Caseloads in Spain and France have also climbed.
From United States (US), the Federal Reserves (Fed) chairman, Jerome Powell will head to Capitol Hill to give a Congressional testimony today. He believed will reiterate the central bank’ committed to maintain loose monetary policy measures and again call the Congress to roll out fiscal support to maintain the current pace of the economic recovery.
Last week The Fed held rates steady at near zero and repeated its pledge to allow inflation to run above the 2 percent targeted rate to help boost growth. At the same day, the largest economy country to announces the home sales in July after increasing 24 percent in June.
In Indonesia, President Joko Widodo has an agenda to discuss the acceleration of Patimban Projects. While, finance minister, Sri Mulyani Indrawati, will give an update on the 2020 State Budget until August.
In addition, trade minister, Agus Suparmanto, has launched the virtual trade expo on Monday, to attract more buyer and export to the global market. Last year, the ministry has attracted total transactions about Rp153 trillion (US$10.48 billion).
From the commodity market, oil prices slumped more than 4 percent on the specter of a new lockdown across Europe and amid a peace pact in Libya could ultimately deliver another million barrels per day to a market already deemed oversupplied. Workers at the major Sharara field have restarted operations and a Suezmax tanker and is making its way to Marsa El Hariga terminal.
On Monday, New York’ West Texas Intermediate (WTI) settled down 4.4 percent to US$39.31 a barrel and London’ Brent crude dropped 4 percent at $41.44 per barrel. Last week, WTI rose 10 percent and Brent gained 8.3 percent after Saudi oil minister, Abdulaziz bin Salman, threatened to make life “hell” for oil bears who bet against high crude prices and the oil cartel.
Yesterday, the Rupiah closed up 0.24 percent to 14,700 per US dollar and the Jakarta Composite Index (JCI) parking was corrected by 1.183 percent to 4,999.360 positions compared to the previous day. The strengthening of both, said observers, was supported by the weakening of the US dollar and the distribution of the vaccine.
With the increasing number of COVID-19 patients in Indonesia, especially Jakarta, the government through PT Bio Farma plans to produce as many as 4.2 million tablets of Oseltamivir this month for healing therapy for patients in the country and distributed to referral hospitals. The market is optimistic that Oseltamivir tablets can suppress and help patients recover and can reduce.
Today, the analysts expect that the local currency to move in the range of 14,670 – 14,730 per US Dollar and the stock index between 4,920- 4,980. The shares to bet watch for today are PT Gudang Garam Tbk (IDX: GGRM), PT Bank Central Asia Tbk (IDX: BBCA), and PT Telkom Indonesia Tbk (IDX: TLKM).
Then, PT Bukit Asam Tbk (IDX: PTBA), PT PP Tbk (IDX: PTPP), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Unilever Indonesia Tbk (IDX: UNVR), PT Perusahaan Gas Negara Tbk (IDX: PGAS), PT Mayora Indah Tbk (IDX: MYOR), and PT Trinitan Metals and Resources Tbk (IDX: PURE).
May you have a profitable Day!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia