A busy economic release diary accompanied by a broad sweep of trade data, GDP updates for Indonesia and Hong Kong, also key official factory data in the United States (US), Brazil, France and Germany - Photo by AsiaGlobe

JAKARTA (TheInsiderStories) – A busy economic release diary accompanied by a broad sweep of trade data, GDP updates for Indonesia and Hong Kong, also key official factory data in the United States (US), Brazil, France and Germany. The Purchasing Manager Indexes (PMIs) around the globe also out in this week.

All of which builds up to Friday’ US jobs report. Then, A flurry of central bank action includes policy meetings in the United Kingdom, Australia, Thailand, Norway, Brazil, Turkey, Malaysia, and the Czech Republic, also the minutes from Bank of Japan gathering.

All meetings are being closely watched after the Bank of Canada became the first to rein-in post-pandemic stimulus amid signs of gathering recovery progress and higher prices. The April job figures and a wide range of first quarter earnings reports will ensure it is another busy week as markets enter into the month of May.

The US economy is expected to have notched up another strong month of jobs growth in April with Friday’ non-farm payrolls report expected to show 978,000 jobs created, after 916,000 jobs were added in March – the largest increase since last August. The unemployment rate is expected to tick down to 5.7 percent from 6 percent.

Today, Federal Reserves (Fed) chair, Jerome Powell, is speaking on one seminar, but he is not expected to offer any fresh insights on the economy during his appearance to discuss community development. Last week he said the “time is not yet” to talk about tapering the US$120 billion monthly pace of bond buying.

Then, Bank of England (BoE) could take its foot off the stimulus pedal and scale back its pace of bond purchases at its meeting on Thursday, with economy rebounding strongly from the pandemic induced recession. In February, the BoE forecast the economy would grow 5 percent in this year after output slumped by almost 10 percent the year before.

In Indonesia, the latest inflation data by statistic bureau out today. At the same time the agency will inform the tourism information during April and follows with the PMI data in April

At the end of last week, Indonesian Rupiah closed up 0.03 percent to 14,445 per US Dollar and the Jakarta Composite Index (JCI) fell 0.29 percent to 5,995.62 compared to the previous day. The analysts rated that Asian financial markets will still be overshadowed by concerns over the infection rates from India.

Investors will also be watching the inflation data for April which will be released soon. Then the GDP data in the first quarter and Indonesia’ PMI data. They assessed April inflation to be around 0.16 percent month-to-month from March at 0.08 percent and the annual inflation in April is predicted to be 1.45 percent higher than April 2020 at 1.37 percent.

With this information, Rupiah is expected to move in the range of 14,400 – 14,500 and JCI between 5,820 – 6100. Stocks to watch are PT Astra International Tbk (IDX: ASII), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Telkom Indonesia Tbk (IDX: TLKM), PT Vale Indonesia Tbk (IDX: INCO), PT Aneka Tambang Tbk (IDX: ANTM), and PT Astra Agro Lestari Tbk (IDX: AALI).

May you have a profitable week!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia