Indonesian Market Recap
JCI closed higher yesterday led by the banking sector amid the release of accelerated growth in loan. Top Gainers : Finance (+1.89%), Consumer (+1.13%), Basic Industry (+1.07%).
Today’s Outlook: : The Release of the Fed’s Minutes
We estimate that today JCI will rally with the support range of 5751-5764 dan resistance range of 5838-5853. The positive sentiment comes from the release of the minutes from the Fed’s most recent meeting. The minutes pointed out that the Fed would be content to let inflation briefly run above their 2 percent target. Besides, many the Fed’s official criticizing the Fed’s confidence stance of the current inflation. It indicates the potency of less massive monetary tightening pace.
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