For this week, there are various important economic data releases both globally and domestically which will influence JCI’s movements. US and Eurozone inflation data are scheduled to be released on July 14 & 17 respectively. Meanwhile there will be announcement of 2Q20 GDP from China which is predicted to be at 2.5%. Investors are waiting for this data considering China had already been affected by the Covid-19 pandemic at the end of last year, so the 2Q20 data is expected to be an indicator of economic recovery. Domestically, Balance of Trade data and the result of Bank Indonesia RDG will be released this week. Last month, BI had cut BI 7-DRRR benchmark by 25bps to 4.25%. Economists projected that BI still has room for further cuts of 25bps for the remainder of the year.
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