JAKARTA (TheInsiderStories) - Good Morning! The week commences with a focus on the People’s Bank of China’ policy rate meeting, with clues sought as to when some of the emergency pandemic support will be unwound. In United States (US), GDP data are released during the week, giving further details on economic trends in the third quarter after rebounded to 33.1 percent.
The week also sees updates to durable goods orders, new and existing home sales, consumer sentiment, jobless claims, personal spending and income data, all of which will provide further insights into the US economy’ resilience mid-way through fourth quarter. While, Senate majority leader, Mitch McConnell, and minority leader, Chuck Schumer, said the Congress reached a deal on a US$900 billion coronavirus relief package before the “government shutdown”.
In Europe, final third quarter GDP data are likewise released for the United Kingdom (UK)-currently estimated as showing a 15.5 percent quarter-on-quarter rebound-and will give more color on business investment and consumer spending in particular.
In addition, Prime Minister, Boris Johnson, says parts of Britain will go back into lockdown starting today after a newly identified strain of COVID-19 has proved to spread faster than previous strains of the virus. The country has among the highest coronavirus death rates in Europe, with more than 67,000 fatalities and over two million cases.
Public sector borrowing data are meanwhile scheduled to further reveal the ongoing cost of the pandemic. Brexit developments will also remain firmly in focus, as the UK government strives to seek a trade agreement with the EU before the deal transition period ends on Dec. 31.
Sterling has risen sharply on encouraging news that the deal is in sight. While, third quarter GDP numbers are also updated for the Netherlands and Spain.
The week closes with a batch of indicators that will provide updated guidance on Japan’ economic health in November, including retail sales, inflation, housing starts and the unemployment rate. Like many other countries, Japan’ recovery continues to be constrained by falling service sector activity, according to PMI data.
In Indonesia, finance minister Sri Mulyani Indrawati has an agenda to release the update of 2020 State Budget Realization until this month. While, there are some rumors, President Joko Widodo will announces the new cabinet members in this week. No confirmation on these issues from the palace.
End of last week, Indonesian Rupiah slightly dropped by 0.02 percent to 14,110 against the Greenback and the Jakarta Composite Index (JCI) rose 2.80 percent towards the level of 6,104,324 compared to the previous day. In this week, Rupiah is estimating move in the range 14,000 - 14, 200 per US Dollar and the JCI between 5,900 to 6,200.
Stocks to be watch are consumer, retail, commodity, banking, mining and manufacturing. For today, shares to be watch are PT Unilever Indonesia Tbk (IDX: UNVR), PT Mayora Indah Tbk (IDX: MYOR), PT Astra Agro Lestari Tbk (IDX: AALI), PT PP Tbk (IDX: PTPP), PT Adhi Karya TBk (IDX: ADHI), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Bank Negara Indonesia Tbk (IDX: BBNI), and PT Indofood Sukses Makmur Tbk (IDX: INDF).
-IHS Markit contributed to this briefing
May you have a profitable Week!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
