US on the brink of recession, Rupiah Mighty this morning

Jakarta, VIVA – The exchange rate of the rupee against the dollar.

According to the latest Jakarta Interbank Spot Dollar Exchange Rate (JISDOR) reference rate or yesterday afternoon, the rupee was determined to be IDR 15.557 per US dollar.

Currency market observer Ariston Tjendra predicts that the rupee will weaken against the US dollar today. This is consistent with the question of the possibility of a recession in the United States (US), which is being played out by market players.

“The August 2024 PMI data on the US manufacturing sector, which has been declining so far and was released last night below estimates, provides material support to recession expectations,” Ariston told VIVA on Wednesday, September 4, 2024.

Ariston believes that the fall in the US PMI will drive market players out of risky assets such as stocks and other assets. emerging markets.

“It scares away market players from risky assets like stocks and bonds. emerging markets and bring in safe assets, that is, assets denominated in US dollars, to strengthen the US dollar,” he said.

In addition, Ariston explained, market players are also awaiting important US data, including employment data, which will be released from Wednesday evening to Friday evening.

According to him, this information increases volatility and determines the next direction of the US dollar exchange rate. so criminal
The market is currently cautious, which has caused market players to abandon risky assets.

“But on the other hand, the recession issue also raises market expectations for a rate cut. So perhaps it can help prevent the dollar from strengthening too much.”

As for today, Ariston estimates that the rupee will weaken to Rs 15,550. At the same time, the potential They support within 15,500 IDR.