The market participants digested the macro data that continued to show the strength of the US economy, validating the Federal Reserve’s tight monetary policy stance. Initial Jobless Claims fell to an unexpected 192K from 200K (lower than the previous period’s 195K), indicating the labor market is still tight.
Global equities and crude oil rebounded as market participants digested the macro data that continued to show the strength of the US economy, which validates the Federal Reserve’s tight monetary policy stance. Initial Jobless Claims fell to an unexpected 192K from 200K (lower than the previous period’s 195K), indicating the labor market is still tight.
The market participants digested the FOMC Meeting Minutes result, which stated that almost all Federal Reserve officials agreed to set the upcoming interest rate hike to 25 bps and bring the FFR to 4.75% at the next FOMC in March.
The Dow Jones and S&P 500 indexes extended their losing streak, although not as steep as last Tuesday, where the Nasdaq alone managed to close into positive territory; as the market digested the FOMC Meeting Minutes result, which stated that almost all Federal Reserve officials agreed to set the upcoming interest rate hike to 25 bps and bring the FFR to 4.75% at the next FOMC in March.
Wall Street posts its worst performance of the year, with all three major indexes falling by around 2%, as investors interpreted a rebound in US business activity in Feb. as reflected in the S&P Global Composite PMI figure, which moved into the expansionary territory of 50.2 (8-month high); another indicator that the Fed will keep interest rates high to control inflation.
Wall Street posts its worst performance of the year, with all three major indexes falling by around 2%, as investors interpreted a rebound in US business activity in Feb. as reflected in the S&P Global Composite PMI figure, which moved into the expansionary territory of 50.2; another indicator that the Fed will keep interest rates high to control inflation.
Bank Indonesia recorded that the current account surplus in 4Q22 amounted to USD 4.3 billion or 1.3% of GDP, a slight slowdown from 3Q22 of USD 4.5 billion; the recorded amount was supported by non-oil and gas trade balance surplus and high export commodity prices.
Global markets remained in positive territory amid the US stock market holiday earlier this week. As for today, a series of economic data that concerns global financial markets, most of which are Purchasing Manager Index from Japan, France, Germany, the Eurozone, the UK, and the US.
UNVR posted 4Q22 sales of IDR9.7 trillion (+1.7% YoY), fuelled by both domestic and export sales, which grew by 1.6 YoY and 5.0% YoY respectively.
