RRI.CO.ID, Jakarta - The US manufacturing sector showed stronger performance amid rising geopolitical tensions. The S&P Global Manufacturing PMI in June increased to 55.7, staying in the expansion zone and pushing the US Dollar Index to around 101.4.
The stronger US manufacturing data indicates that the US Dollar still has room to strengthen against major currencies, including the Indonesian Rupiah. On Wednesday morning trade, 24 June 2026, the Rupiah weakened to around 17,950 per US Dollar and could approach the 18,000 level.
Meanwhile, there were no major economic events expected to significantly impact the market today. Positive sentiment emerged after Iran and the US reached a peace agreement, reducing market concerns over geopolitical uncertainty.
Following the agreement, crude oil prices declined, with WTI trading around $72 per barrel and Brent around $76 per barrel. The easing pressure on commodity prices may help reduce inflation risks in several countries.
However, investors are still waiting to see how oil prices develop after the agreement and whether tensions in the Middle East remain under control. The market expects crude oil prices to stay around current levels for the near term.
On the domestic market, the IHSG opened higher at 6,128 during today’s trading session. The ongoing pressure on the Rupiah appears to ignore positive geopolitical sentiment, suggesting that domestic factors are playing a bigger role in market movements.
Meanwhile, global gold prices weakened to around $4,134 per troy ounce, or approximately Rp2.39 million per gram. Higher US Dollar bond yields continue to pressure gold prices, although technically gold is already oversold.
Writer: Gunawan Benjamin (Economist, Islamic University of North Sumatra)
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