JAKARTA (TheInsiderStories) - Good Morning! The United States (US) stimulus battle between Democrats and Republicans will continue in this week. During the week we are looking a little quiet on the data side, with the most notable release being the new economic forecasts on Thursday.
The region is continuing to struggle with the vaccine rollout which could mean longer lockdowns and a slower recovery. While, the US economy continues to make progress in the fight against COVID-19 as daily cases have declined for almost a month and vaccination efforts accelerate.
The non-farm payroll report showed that the case for more stimulus remains elevated. Now, President Joe Biden focused will remain on vaccine rollouts.
Various agenda in this week, start with the US Senate second impeachment trial against former President Donald Trump begin on Monday. The story continues to Italy, whether Prime Minister, Mario Draghi, former president of the European Central Bank, can form a government at a time of crisis for the country.
Markets have responded positively to Draghi taking on the job but if he fails to form a government, Italian assets may take a hit. From Britain, no major surprises from the Bank of England at its February meeting. Negative rates remain a possibility later this year but still an unlikely with any further easing likely to come from asset purchases and the Term Funding Scheme.
In Asia, trade balance of China released on Monday and Inflation released on Wednesday. The the country to releases the January 2021 foreign reserves data and estimated at US$3.222 trillion. The second world largest economy will be on holiday for a week starting Thursday.
Then, Reserve Bank of India surprises the market and leaves rates unchanged after the expansionary budget this week. Quiet week ahead with inflation and industrial production due to be released on Friday.
From Japan, the Producer Price Index could show signs of imported energy inflations increasing pressure on the Japan Government Bond Futures. Domestic consumption is constrained as the pandemic state of emergencies are extended and expanded.
On Monday, European Central Bank‘ president, Christine Lagarde, will discusses the central bank annual report at the European Parliament and Cleveland Federal Reserves (Fed)’ President, Loretta Mester speaks about the US economy. And, Singapore foreign reserves also release today.
On Tuesday there are New Zealand inflation data, Australia NAB business conditions. On Wednesday, chairman of the Fed, Jerome Powell will speak on a webinar and Bank of Canada’ deputy governor, Timothy Lane, speaks on payment modernization and digital currencies.
Also, ECB Executive board member, Fabio Panetta, speaks about the potential effects of a digital Euro versus the US Dollar. In addition, German Chancellor, Angela Merkel, discusses the likely extension of COVID-19 curbs with state premiers and EIA inventory report to be released.
On Thursday, Ireland’ Prime Minister, Michael Martin, will speaks at the at the European Financial Forum 2021 and South Africa President, Cyril Ramaphosa, delivers the annual state of the nation address.
There are also OPEC monthly Oil Market Report, the European Commission’ new economic forecasts, US initial jobless claims, Mexico industrial production and Mexico Central Bank Interest Rate Decision, and Philippines rate decision
O Friday, Euro-area December industrial production data, Canada wholesale trade sales, New Zealand Business NZ manufacturing PMI and food prices, Turkey current account balance and industrial production, India industrial production and consumer price index.
In Indonesia, the investors eyes still on the government effort to tackle the pandemic. So far, the policies and stimulus not give a significant impact to the domestic economy.
At the end of last week, Indonesian Rupiah parked at 14,030 after weakening 0.11 percent and the Jakarta Composite Index (JCI) strengthened 0.73 percent to 6,151.73 compared to the previous day. This week the local currency its expecting move between 13,950 - 14,100 and the stock induce in the range 5,900 - 6,300.
While, stocks to watch for this week are in the banking, mining, commodity, retail, manufacturing and infrastructure sectors. For today, please pay attention to PT Bank Central Asia Tbk (IDX: BBCA), PT Indotambang Megahraya Perkasa Tbk (IDX: ITMG), PT Astra Agro Lestari Tbk (IDX: AALI), PT Aneka Tambang Tbk (IDX: ANTM), PT AKR Corporindo Tbk (IDX: AKRA), PT Semen Indonesia Tbk (IDX: SMGR), PT Bukit Asam Tbk (IDX: PTBA), and PT Mayora Indah Tbk (IDX: MYOR).
May you have a profitable Week!
Written by Linda Silaen, Please Read Our News to Get More information about Indonesia
