The producer-price level logs downwards, Wall Street opens higher. US PPI Final Demand Sept. YoY go down to level 8.5% (Vs. Aug. 8.7%); indicating that the supply chain starts to recover, as well as a price decrease in several commodities from its highest levels. However, the result of FOMC Meeting Minutes stated that the Fed remained on track, or projected to raise FFR +75 Bps again for the fourth time in early November, sent Wall Street moving mixed before slightly going lower on the final. The Fed’s statement is in line with the high level of consumer inflation. US CPI Headline data on Sept. which will be released Thursday local time, is projected to remain above the level of 8% YoY.
Hawkish yet Dovish. Not as high as +50Bps, but not as low as +25Bps, the increase in the BI 7DRRR is projected to be +38Bps. According to a Bloomberg survey, BI is projected to raise the BI 7DRRR Oct. to a level of 4.63% (Vs. Sept. 4.25%). NHKSI Research sees the increase in subsidized fuel prices last September will still have an impact on inflation during October. However, inflation is likely to be suppressed by deflation from the foods, beverages, and tobacco categories. In response to the result of the FOMC Meeting Minutes last night, NHKSI Research projects the IDX Composite is remained consolidation but with a limited downside today with Support levels: 6,900-6,870 / 6,840-6,830 / 6,750 and Resistance: 7,000 / 7,040 / 7,140 / 7,200-7,225.
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