Rupiah has Opportunities to Beat US Dollar Today

Central Bank of Asia's Economist, David Sumual, said that last weekend's rupiah weakness was more driven by the action of buying dollars at a low price, also known as bargain hunting.On top of that, there was also pressure due to the correction of oil prices. `The domestic sentiment is pretty good. The current account deficit is shrinking,` he said.From the aforementioned factors, David sees an opportunity for the rupiah to strengthen on Monday (2/15/2016). Especially if the import and export figures are still within range. However, the appreciation will be limited because the US dollar has also received a positive catalyst from retail sales data.Furthermore, the market still tends to avoid risks, and this is advantageous for the emerging market currencies. The market is inclined to wait for the US inflation data that will be a strong sign towards the Fed raising the interest rates.However, the appreciation of the rupiah will be limited because the market will anticipate the BI rate. Analysts predict that today the rupiah will fluctuate between Rp 13,200 and Rp 13,700 per US dollar. (Namira Daufina)



Author
: Aprillia Ika


Editor
: Aprillia Ika


Source
: KONTAN



http://bisniskeuangan.kompas.com/read/2016/02/15/080047426/Rupiah.Berpeluang.Ungguli.Dollar.AS.Hari.Ini