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Lots of 'Hot' Sentiments, Let's Read Before Trading Stocks

Lots of 'Hot' Sentiments, Let's Read Before Trading Stocks

Indonesia,  Andrianus.my.id - The Composite Stock Price Index (IHSG) closed down 0.39% in the last trade, Friday (25/11/2022) to the position of 7,053.15. JCI only strengthened for two days this week and as a whole fell 0.41%.

The index is still trapped in a sideways pattern in the range of 7,000-7,100. For next week, investors need to be more vigilant. This is because there are many agendas and sentiments coming from within and outside the country that can move the market.

The most important agenda at the end of November is the 2022 Bank Indonesia (BI) Annual Meeting which will be held on Wednesday (30/11/2022). This year's meeting will be titledSynergy and Innovation to Strengthen Resilience and Awakening Towards an Advanced Indonesia.

The meeting which was attended by hundreds of bankers and financial industry players had two important agendas, namely listening to speeches by President Joko Widodo, or Jokowi, and BI Governor Perry Warjiyo.

The president will usually deliver his statements and economic views for this year and next year. It will be interesting to wait whether President Jokowi will convey his views on BI's aggressive monetary policy.

At the meeting, the Governor of BI will also convey a number of BI targets and targets for next year starting from economic growth, credit, to the inflation rate.

Lots of 'Hot' Sentiments, Let's Read Before Trading Stocks

BI will also present their most important agenda for the year ahead, both their monetary and prudential policies.

On Wednesday this week, the Governor of the United States (US) central bank The Federal Reserve (The Fed) Jerome Powell will also give a speech on monetary and labor policy at the Hutchins Center.

After the minutes of the Fed's meeting came out this week and hinted at monetary easing, the public is now waiting for a statement from Powell in person.

Powell's statement at the event will almost certainly affect the market given the magnitude of the influence of The Fed's policies on global financial markets.

On the same day, the US will release the Jobs Vacancies and Labor Turnover Survey  (JOLTS ) data for October 2022.

If the employment data still doesn't improve, then market participants will likely have more confidence if the Fed's monetary easing approaches.

Next Thursday (1/12/2022), the Central Statistics Agency (BPS) will also release inflation data for November 2022.

Based on the Price Monitoring Survey in the fourth week of November 2022, November inflation is estimated to reach 0.18% (month to month). This condition is inversely proportional to the 0.11% deflation in October.

The main commodities contributing to inflation are eggs, tomatoes, purebred chicken meat, bottled water, gold jewelry, filter clove cigarettes, rice, and cooking oil.

The November inflation rate will be a concern of market players because it will be taken into consideration by BI in determining interest rates in December.

On a year on year (yoy) basis, inflation in October 2022 reached 5.71% or sloping compared to September which was recorded at 5.95%.

BI in the Board of Governors Meeting (RDG) meeting this month estimates that inflation will be in the range of 5.6% by the end of this year. This projection is much lower than the initial estimate of 6.3%. If inflation declines, there is hope that BI will put the brakes on its aggressive monetary policy.

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