A line of global economic data still released last Friday, such as the UK Construction PMI (Dec.), which fell to 48.8 (lower than the forecast and previous period), and the European zone CPI (Dec.) began to fall to 9.2% YoY. However, core inflation still showed an increase of 5.2% YoY, compared to 5.0%. A reading of a number of data from the US, such as: Nonfarm Payroll (Dec.) of 223k (vs. previous 256k), Unemployment Rate (Dec.) of 3.5% (lower than the previous: 3.6%), and ISM Non manufacturing PMI (Dec.) at 49.6 (vs. previous: 56.5) closed out last week’s economic calendar with several considerations around how the data will affect US central bank’s monetary policy.
JCI was finally able to rebound at the Support level of 6640-6600, using the previous lows in July, supported by the RSI’s positive divergence. This matter fosters hope that today’s strengthening can continue with the short-term TARGET goal around 6700-6715 before moving towards MA10 & MA20 around 6820-6825. We advise Indonesian capital market investors/traders to still apply wise-money management to their trading decisions, with a gradual buying strategy that is considered the safest for times of high volatility like the current.
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