Market Recap
JCI closed lower on Friday, 11/12/18, as investors focused on weighing plans of LQ45 and IDX 30 indexes, as well as the release of 3Q18 current account deficit. Top Losers: Consumer (-5.08%), Property (-1.51%), Finance (-1.31%).

The Fed’s stance of leaving its benchmark rate unchanged cause the slowdown in global markets on Friday. The possible global economic slowdown along with the downbeat global prices and the weak economic data of the U.S. and China’s economy was setback to the U.S. markets. Meanwhile, European’s investors also focused on Brexit and Italian’s stance of leaving its 2019 budget unchanged.

Today’s Outlook: Expectancy of Slowdown in Global Economy
We estimate that today JCI will be in a sluggish mood with the support range of 5815-5820 and the resistance range of 5895-5904. The negative sentiment comes from the global markets closed at bearish territory on Friday, 11/11/18. Investors feared the possible slowdown in the global economy and further losses in global crude prices indicating low global demand. However, we estimate that the fears are temporary as IMF has predicted the possible slowdown in the global economy.

From the domestic outlook, 3Q18 current account deficit higher than 2Q18 deficit comes about estimate and is on the spotlight. The trend of global crude prices proves a boon for Indonesia’s external trade balance.

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