Rupiah volatility as BI Board of Governors’ Meeting and FOMC Meeting Minutes approach will influence JCI’s movement during the four days of trading this week. Surveys project BI to maintain 7DRRR for May at 3.50% on Tuesday (24/05). Meanwhile, the result of FOMC Meeting Minutes on early Thursday (Indonesian time) is expected to remain hawkish. Survey predicts the Fed to continue increasing FFR in June by 50 bps to 1.25% (Lower Bound) to 1.50% (Upper Bound). NHKSI Research projects JCI to move mixed this week, in the range of 6,750 to 7,050.
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