Positive Sentiment Not Appearing Rupiah Still Weak
By : Wiyanto And Aldo Bella Putra | Monday, May 07 2018 - 12:30 IWST
IHSG (Foto/Rizki Meirino)
INDUSTRY co.id - Jakarta-Rupiah is estimated to move within the range of support range 13942 and resistance 13929. Rupiah movement is still in weakening trend as there is still a potential rise in USD where domestic sentiment is still minimal to lift the rupiah.
Binaartha Institutional Research analyst Reza Priyambada said the rupiah was not lifted despite the positive news from the Financial Services Authority (OJK) that ensures the capital of 15 systemic banks as mandated by the Law on Prevention and Crisis Response of Financial System (PPKSK) in safe condition is also ignored by market participants .
"Therefore, the panic is expected to ease and domestic sentiment can be more positive to attract market participants against the rupiah so that the weakening can be more restrained," he said in Jakarta, Monday (7/5/2018).
Previously, he said, the rate of Rupiah at the end of the week tends to flat after the rise near the psychological level of Rp 14 thousand. The movement of the USD is still likely to strengthen against a number of other currencies despite US employment data in April below estimates. The US economy added jobs lower than expected and although the unemployment rate dropped to near the lowest level of 3.9 percent.
"On the other hand, BI's feeling of security is still safe with the weakening of the rupiah did not get a positive response from market players," he said.