JAKARTA - Financial Market Observer and Commodity Ariston Tjendra said that the movement of the rupiah has the potential to strengthen against the United States (US) dollar on Monday, March 17.
Ariston said that the movement of the US dollar may still be overshadowed by negative sentiment because the market expects Trump's tariff increase policy to encourage the US economy to experience a recession.
"The survey report on the latest consumer confidence level on Friday night shows a declining confidence among US consumers about the condition of the US economy going forward," he told VOI, Monday, March 17.
Meanwhile, based on data from the US Michigan Consumer Sentiment, it was released at the level of 57.9 in March 2025, lower than the previous month at the level of 64.7.
In addition, Ariston submitted US inflation data released last week, showing a lower rise than the previous month.
"US consumer inflation data was released 2.8 percent compared to the previous month's 3.0 percent. This lower inflation opens up opportunities for further benchmark interest rates by the US Central Bank," he explained.
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He conveyed that the movement of the rupiah on Monday, March 17, has the potential to strengthen against the US dollar to the support area at Rp. 16,200 per US dollar with the potential for resistance at Rp. 16,400 per US dollar.
Quoting Bloomberg, on Friday, March 14, the rupiah spot exchange rate was closed up 0.47 percent to the level of IDR 16,428 per US dollar.
Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed up 0.24 percent to a price level of IDR 16,428 per US dollar.
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