The US markets closed lower in trading (19/04/2021) after experiencing a significant rally last week. Investors will still be watching the release of financial statements for the first quarter of 2021 to get an idea of corporate profits recovery. Meanwhile, 10-year Treasury bond yield rose to 1.6%.
Domestically, JCI’s decline at the beginning of this week was marked by a slight net sell by foreign investors. Market participants will focus on the release of BI Board of Governors (RDG) meeting result with the consensus that the BI 7-DRRR benchmark interest rate will be maintained at 3.5%. Technically, JCI is expected to remain under pressure with a range of movement at 6,000 -6,115.
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