Weak Dollar Brings Positive Sentiment to Rupiah: Analyst

Reza Priyambada, a senior analyst from Binaartha Securities, said that the weakening of US dollar still gives a positive sentiment to Rupiah.

He added that Rupiah is still likely to rebound.

Nevertheless, investors are expected to stay vigilant against numerous sentiments, especially from the release of US economic data, he said.

Reza hopes that following the report of the rising US balance of trade deficit due to the drop in non-farm payrolls and the factory orders, the greenback can weaken, bringing a positive impact to the Rupiah.

Reza estimated that Rupiah would be traded at around support 13,400 and 13,280.

It is also expected that this sentiment will persist to further strengthen the Rupiah, he added.

Based on the Jakarta interbank spot dollar rate (JISDOR) on Wednesday, the Rupiah on Friday (6/1) strengthened by 23 point 0.17 percent to 13,347 from the previous trading at 13,370.

 

Source : Tempo.co

Jan 14, 2017


 
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