RRI.CO.ID, Jakarta - Market sentiment in today’s trading session is relatively stable than before. However, investors remain focused on rising geopolitical tensions.
Global crude oil prices are trading higher at around 108 US dollars per barrel. Asian stock markets are showing mixed movements.
The Indonesia Stock Exchange Composite Index (IHSG) opened lower at 6,453 before turning higher and moving into positive territory.
In contrast, the Indonesian rupiah weakened to around 17,730 rupiah per US dollar. The currency remains under pressure despite relatively stable US dollar performance.
The US Dollar Index is moving steadily at around 99.6. Meanwhile, the yield on the 10-year US Treasury remains below five percent.
With limited economic data being released today, financial markets are expected to move sideways. The IHSG is projected to trade in the range of 6,430 to 6,480.
| Baca juga: Oil Prices Rise to $108 Per Barrel |
The rupiah, meanwhile, still has room to recover toward the psychological level of 17,700 rupiah per US dollar. Market movements are expected to remain limited as investors await stronger market signals.
Meanwhile, global gold prices have strengthened to around 4,294 US dollars per troy ounce. Gold prices are expected to remain around the 4,300-dollar level during today’s trading session.
Subdued market sentiment could keep financial markets and gold prices moving sideways throughout the session.
Writer: Gunawan Benjamin (Economist, UISU)
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