Go Finance Reporting - The positive economic data in the United States (U.S.) will trigger the dollar strengthened. As a result, other currencies including the rupiah would be depressed.
In fact, this now appears positive sentiment from the WTI oil price increases that should reinforce the value of currencies in Asian countries. "But at the same time U.S. economic data show reinforcement. The combination of both seems to be likely to bring negative market moves Asia including the rupiah, 'clear Securities analyst Samuel Indonesia Lana Soelistianingsih in his research in Jakarta, Monday (01/17/2011).
Lana estimate the rupiah will weaken back to Rp9.060-Rp9.070 per USD in trading today.
Last week, the Indonesian market was under selling pressure especially in the stock and bond markets. Indiscriminate selling by foreign investors is estimated at more than Rp2 trillion, equivalent to USD220 million.
But the selling does not make the rupiah exchange rate weakened significantly, only moving in the range of Rp9.050-Rp9.065 per USD. Sales by foreign investors but not followed by a weakening rupiah give an indication of foreign funds are still in Indonesia while waiting for the opportunity to go back when BI is likely to raise the BI rate is the interest rate in February 2011.
BI continues to come under pressure to raise interest rates in line with expectations of rising inflation. At the close of trading last Friday, the rupiah closed stronger at Rp9.054 per USD, and the Jakarta Composite Index closed up to 3569.14, while the price of WTI closed up thin to USD91, 54 per barrel. (GoFinance)
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