TEMPO.CO, Jakarta - Samuel Securities Indonesia predicts the rupiah exchange rate against the US dollar in trading on Friday, July 31, 2015 under pressure.
"Rupiah likely to weaken today, especially if there is no intervention from the central bank," said economist Samuel Securities Indonesia Rangga Cipta in a report Friday.
The US dollar rate continued to climb overnight, after the release of US GDP figures, although below expectations. This figure is quite well responded by the global market.
The US economy growth in the second quarter of 2015 had much improved from the previous quarter, assessed in line with the intention of the Fed to raise interest rates.
On the other hand, Rangga said, the price of crude oil continues to fall, giving investors a reason to continue to boost the dollar. The euro weakened, although German inflation figures able to ride.
"This afternoon investors will await important economic data from the Euro Zone. Unemployment rate is expected to remain high while inflation in June will not be improved significantly,” he said.
From within the country, Rangga said, domestic investors' attention will also focus on the release of July inflation figures on Monday afternoon. It is estimated that inflation will fall from 7.26% YoY to a range of 7% -7.1% YoY.
"The release of company financial statements looks disappointing, thus maintaining the consistency of the flow of foreign funds outside, which also adds to pressure on the rupiah," said Rangga.
SUN (state bonds) yield is seen still rising. 10-year tenures has reached 8.6% until Thursday afternoon.