US Manufacturing PMI is significantly contracted to 47.7 points as borrowing costs rise higher, weighing the demand for the goods. The manufacturing contraction proved the FFR gains had cooled the US domestic economy, with mixed responses from the investors and Wall Street closed mixed. Currently, the market sees the probability of an increase in Dec. FFR +50Bps by 79% (Vs. +75Bps by 21%). Investors are also looking forward to November’s Nonfarm Payrolls Data local time as a hint of how the FFR’s rise has affected the labor market. After Thursday’s US Labor Department showed Initial Jobless Claims within the week, fell by 7% to as many as 225K claims.
Indonesia’s Manufacturing PMI is approaching contraction, indicating that the increase in BI 7DRR +175Bps YtD impacted domestic consumption. Meanwhile, Indonesia’s Nov. Inflation Headline data was maintained at 5.42% YoY (Vs. Oct. 5.71) amidst high global inflation pressures. Even though the Window Dressing month has entered, the Technology and Financial Sectors’ depreciation yesterday makes NHKSI Research project that today’s JCI tends to move sideways.
Download full report HERE.