JAKARTA - Financial Market Observer and Commodity Ariston Tjendra said that the movement of the rupiah has the potential to weaken against the United States (US) dollar on Monday, December 9 was driven by various data and events that occurred at the end of last week.
"Such as the US Non Farm Payrolls Data in November showed better results than projections, 227,000 vs 220,000," he told VOI, Monday, December 9.
In addition, Ariston said that the weakening of the rupiah would also be driven by the level of US consumer confidence in December which also showed better results at the level of 74 compared to the previous 71.8.
"This shows the improving US economy. And some of the Fed's high-ranking officials who spoke at the weekend commented on the Fed's chances of slowing down its rate of benchmark interest rates," he said.
Therefore, Ariston estimates that the movement of the rupiah on Monday, December 9 has the potential to weaken against the US dollar towards Rp15,880-Rp15,900 with a potential support in the range of Rp15,820.
VOIR éGALEMENT:
Quoting Bloomberg, the Rupiah exchange rate on Friday, December 6, 2024, the rupiah exchange rate on the spot market closed higher by 0.11 percent at the level of Rp. 15,845 per US dollar.
Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed up 0.27 percent to a price level of IDR 15,848 per US dollar.
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