Bank Indonesia will announce the position of foreign exchange reserves in March and it is presumed that it is still in a stable condition - Photo: Special

JAKARTA (TheInsiderStories) – Good Morning! Today, Bank Indonesia will announce the position of foreign exchange reserves in March and it is presumed that it is still in a stable condition. Then, British’ foreign secretary, Dominic Raab will hold talks with President Joko Widodo and Foreign Minister Retno Marsudi on a range of issues including the coup in Myanmar, the COVID-19 and climate change.

He will also meet health minister, Budi Gunadi Sadikin, to discuss the importance of international collaboration in pandemic preparedness, included telemedicine, research through the Newton Fund, and genome sequencing through the Fleming Fund. He will also to announces the planned deployment of the Royal Navy’ Carrier Strike Task Group to the region amid escalating tension in the South China Sea.

From the United States (US), we’ll get a little more insight from the Federal Reserves were thinking about inflation and the current state of bond-buying program when the last month’ Federal Open Market Committee meeting are released today. And President Joe Biden moved up the COVID-19 vaccine eligibility target for all American adults to April 19, but warned “we’re still in a life-and-death race” with the coronavirus.

In Asia, Chinese stock markets fall as the central bank asked the country’ biggest commercial banks to rein in their lending after a surge in credit in the first two months of 2021. The People’s Bank of China wants new loan volumes to be roughly the same as last year to around 11 percent.

On Tuesday, the Rupiah strengthened 0.07 percent to 14,505 per US Dollar and the Jakarta Composite Index (JCI) closed up 0.54 percent to 6,002.77 compared to the previous day. The analysts rated that both have the opportunity to strengthening today amid the release of data on Indonesia’ foreign exchange reserves.

If the reserves rises, its considered that it will add positive sentiment to both instruments. The market is also still waiting for Indonesia’ trade balance data which will be released on Thursday.

Globally, the COVID-19 death toll surpassed 3 million worldwide on Tuesday due to a resurgence in global infections plus new restrictions in Europe will give a negative sentiment on the market. This is considered to be a challenge for vaccination efforts around the world.

With this information, the Rupiah is expected to move in the range of 14,500 – 14,530 versus the American Dollar and the JCI between 5,827 – 6,088. Stocks that can be watched today are PT Bank Central Asia Tbk (IDX: BBCA), PT Telkom Indonesia Tbk (IDX: TLKM), PT XL Axiata Tbk (IDX: EXCL), PT Indofood Sukses Makmur Tbk (IDX: INDF), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Elang Mahkota Technology Tbk (IDX: EMTK), and PT Astra International Tbk (IDX: ASII).

May you have a profitable Day!

Written by Linda Silaen and Editorial Team, Please Read Our News to Get More information about Indonesia