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 Thursday, June 5.
Ariston revealed that the PMI data of the US services sector in May version of the ISM for May showed a contraction for the first time in 11 months.
"The negative impact of Trump's tariff policy has been felt in the service sector which is usually more solid than the manufacturing sector," he told VOI, Thursday, June 5.
According to him, this condition reinforces market participants' negative views on the future US economic prospects, and could open up opportunities for the Fed's perspective on cutting the benchmark interest rate.
Ariston said this week that market attention was also focused on US labor data, especially those released on Friday.
SEE ALSO:
"Last night the ADP version of the Non Farm Payrolls data in May showed the addition of work under market expects, +37,000 vs +111,000. This result can also put pressure on US dollars," he explained.
He conveyed that the movement of the rupiah on Thursday, June 5 has the potential to strengthen to the level of Rp. 16,200 per US dollar, with the potential for resistance in the range of Rp. 16,300 per US dollar.
Quoting Bloomberg, on Wednesday, June 4, the rupiah spot exchange rate closed higher by 0.09 percent to the level of Rp. 16,294 per US dollar. Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI), closed lower by 0.1 percent to a price level of Rp. 16,305 per US dollar.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
