This week, statistic bureau has an agenda to announces the latest inflation data in November - Photo: Special

JAKARTA (TheInsiderStories) – Good Morning! This week, statistic bureau has an agenda to announces the latest inflation data in November. Last month, the country posted an inflation 0.07 percent compared to September deflation 0.05 percent.

From global, worldwide Purchasing Managers Index (PMI) surveys will provide fresh updates to global manufacturing and service sector business conditions, highlighting national and sector divergences in economic performance amid rising COVID-19 infections.

The United States (US) will be in particular focus, with Federal Reserves chair Jerome Powell’ testimony before Congress on Wednesday and the monthly employment report on Friday. The consensus at the time of writing is for another 600,000 jobs to be added with the unemployment rate slipping from 6.9 percent to 6.8 percent.

That would be the lowest rate since March, it would represent the smallest improvement since April’ 14.7 percent peak, and could stoke further concerns among policymakers that the economic upturn is losing momentum. In contrast to the US, the European PMI data have fallen sharply amid new lockdowns to fight off second waves of COVID-19 infections.

More color will be added from the final PMI releases, as well as more detail on country performance and sector trends. Analysts will be especially keen to see if cyclical sectors such as autos continue to perform well, offsetting weakness in consumer facing services.

In the United Kingdom, progress towards Brexit trade deal with the European Union will also keep markets on edge. In Asia, the National Bureau of Statistics announced the China Manufacturing PMI Index in November, rising to 52.1 from October’ 51.4.

The China manufacturing index figure remains above the 50-point mark separating growth from contraction. Though manufacturing PMIs from economies across the Asia Pacific region will provide key insights into whether raising global trade flows are helping to broaden out the recovery.

While, monetary policy action comes from Australia and India, both of which are seeing signs of economic recoveries gain momentum. In addition, oil producer (OPEC) leaders also meet to decide on quotas in 2021 amid a climate of rising tensions and speculation as to whether current supply cuts will be rolled over.

This morning, President Joko Widodo has schedule to lead a limited meeting on COVID-19 and Economic Recovery Program. For this week, a number of sentiments will influenced the financial market are progress on Brexit talks between the UK and the European Union  and optimism over several vaccine developers, including Pfizer Inc., and Moderna Inc., which announced positive results over the past two weeks.

There are also sentiment on the transition President Donald Trump to president-elect Joe Biden. In the country, the market was optimistic about the Indonesian Government’ efforts to obtain the COVID-19 vaccine. As reported, Indonesia, Brazil, Mexico, India, and Russia are developing countries which are likely to receive the earliest vaccines.

Furthermore, Bank Indonesia continued to implement an economic mix strategy policy aimed at stabilizing the Rupiah by lowering interest rates and intervening in the foreign exchange market, bonds and government securities in the Domestic Non-Deliverable Forward trade.

At the end of last week, the local currency up 0.07 percent to 14,090 against the Greenback and the Jakarta Composite Index (JCI)  strengthened 0.41 percent to 5,783.34 compared to the previous day This week the stock index is estimated move in the range  5,500 – 5.900 and Rupiah between 14,000 – 14,100.

Stocks to be watch are in the mining sector, oil and gas, commodity, banking, construction, property, cement, pharmacy, and retail.

For today, the stocks to be watch are PT Astra Agro Lestari Tbk (IDX: AALI), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT AKR Corporindo Tbk (IDX: WIKA), PT London Sumatera Indonesia Tbk (IDX: LSIP), PT HM Sampoerna Tbk (IDX: HMSP), PT Kalbe Farma Tbk (IDX: KBLF), PT Indocement Tunggal Perkasa Tbk (IDX: INTP),  and PT Summarecon Agung Tbk (IDX: SMRA).

-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