JCI Gains; Rupiah Climbs to 14,178/US$
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7 January 2019 11:39 WIB
TEMPO.CO, Jakarta - The rupiah strengthened against the US dollar in the first trading day of the week, January 7. According to Bloomberg, the rupiah's spot market rate opened higher by 0.64 percent or up 92 points to trade for Rp14,178 per US dollar.
The rupiah strengthens as the US dollar index weakened this morning by 0.09 percent to 96.096 as per 07:54 Jakarta time.
"In fact, the rupiah has the potential to trade for less than 14,000 per US dollar," Monex Investindo Futures' senior researcher and analyst Faisyal said on Friday, January 4.
Faisyal predicted the rupiah will strengthen further if the US economic data shows a negative trend, below market expectations. The rupiah will also shoot up if there is a dovish statement from Jerome Powell about the Federal Reserves' attitude towards the 2019 global economic growth outlook.
Meanwhile, the Jakarta Composite Index (JCI) opened Monday with a 43.08-bps gain, climbing 0.69 percent to 6,317.62. The Indonesia Stock Exchange's (IDX) blue chip index, the LQ45, also moved up by 10.76 points or 1.07 percent to 1,012.40.
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