Wall Street mixed in the upcoming 3Q22 Earning Results. Investors anticipate profit expectations downwards amid inflationary pressures and high-interest rates. Many Big Banks will report quarterly basis results which relatively depict the US economic condition. The Nasdaq technology index closed down 1% while the DJIA slightly edged up with 36 points.
The BI 7DRRR at level 4.25% is ineffective, as the rupiah exchange rate depreciated more to the level of IDR 15,350/USD. IDX Composite closed below the psychological level of 7,000 or weakened by 55 points yesterday. The strong Dollar again put pressure towards the rupiah exchange rate, with DXY remaining at the high level of 113, to which the investors negatively responded. As can be seen from the technology sector, which is sensitive to the rising interest rates and weakened by more than 2% or leading the sectoral downward. Amid the sentiments, NHKSI Research is projecting IDX Composite will move back to consolidation with a range Support of: 7,000 / 7,040 / 7,140 / 7,200- 7,225.
Download full report HERE.
