JAKARTA (TheInsiderStories) - Good Morning! This week monetary policy meetings are scheduled for Indonesia, Thailand, and the Philippines, though no changes are anticipated. October updates to trade in Singapore, Thailand, Indonesia and India will also be closely watched, as will GDP data for Thailand and Singapore.
We will also sees the Group of 20 convene in Riyadh, Saudi Arabia, with expectations rising that progress will be made on a new framework for dealing with indebtedness of the world’ poorest countries. Then, the important updates to the economic picture in the United States (US) and China, with retail sales and industrial production numbers released, which will give a good steer on GDP growth rates.
Other releases in the US include housing market, inventories and jobless claims data. While Kansas, Philly Fed and the Empire State surveys give early glimpses of economic trends in November.
In Asia, flash Purchasing Manager Indexes (PMI) for Japan and Australia will be released, giving the first clues as to economic trends midway through the fourth quarter. Recent PMI data have been encouraging. Japan saw its downturn ease in October while Australia saw its recovery gain momentum.
In Europe, consumers are under the spotlight as household sentiment data are published across the region and retail sales data are issued in the United Kingdom (UK). With many European countries re-introducing lockdown measures to fight off second waves of COVID-19 infections, the resilience of the consumer will be a key determinant of whether fourth quarter downturns can be avoided.
So far, PMI data have indicated deteriorating trends for both the UK and Eurozone. Both the UK and Eurozone also provide updates to inflation.
During last week, Indonesian Rupiah gain 0.28 percent to 14,170 per US dollar and the Jakarta Composite Index (JCI) strengthened 2.35 percent and was perched at 5,461.06 at the end of trading last Friday. This week, both are predicted to move flu time due to the risk averse sentiment.
One of the drivers is the surge in positive cases of the corona virus both domestically and globally. Daily positive cases of the corona virus in Indonesia in the last two days have reached more than 5,000 cases.
Under these conditions, analysts estimate that this week, the Rupiah has a tendency to move in the range of 14,100 - 14,300 per US dollar. And JCI is in the range of 5,412 - 5,490. Stocks to be watch for this week are banking, mining, property. retail, manufacturing, also oil and gas.
-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
