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The Jakarta Composite Index (JCI) opened in the red at 6,354.34 on Monday (July 8th). By the close of the first session, the JCI had weakened by 0.4% to 6,438.21. Today's JCI movement is expected to experience a correction due to the influence of domestic and United States (US) economic data releases.
Previously, Bank Indonesia (BI) released the Consumer Confidence Index (CCI) for June 2019, which fell 1.8 points or 1.39% to 126.4, down from 128.2 in May 2019. Lanjar Nafi, an analyst at Reliance Sekuritas Indonesia, predicts that, in relation to the CCI, the JCI will weaken in the range of 6,320 to 6,380.
Furthermore, the JCI's movement throughout this week is expected to be influenced by external factors, such as the release of semi-annual reports and inflation data by the Federal Reserve (The Fed) on Thursday (July 11th). This release is important because it indicates the direction of the US benchmark interest rate, the Fed Funds Rate.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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