Speculation of a 75 bps increase in the Fed Funds Rate (FFR) in June. Wall Street’s main indexes continued closing lower on Friday, after the Fed officially raised its May FFR by 50 bps, to a range of 0.75% (lower bound) to 1.00% (upper bound). Some investors even project an increase of 75 bps in June, if the FFR hikes in March (+25 bps) and May (+50 bps) do not have a significant impact on high inflation in the United States.

JCI rose by 0.5% to a level of 7,228, supported by increases in nine sectors, ahead of the long Eid al-Fitr holiday. The movement of the JCI is also in the midst of government certainty that prohibits the export of Crude Palm Oil (CPO) and various other derivative products. Today, investors are looking forward to the release of April inflation data projected at 0.83% MoM or 3.34% YoY (Prev. 0.66% MoM; 2.64% YoY), and 1Q22 GDP projected -0.93% QoQ or 5 % YoY (Prev. 1.06% QoQ; 5.02% YoY).

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