Market Update 6 Nov 2026

Previous Trading Session (05 November 2026)

• The Jakarta Composite Index (JCI/IHSG) closed higher by 2.25% at 5,030.26, compared to 4,919.77 at the close on 04 November 2026.
• The Rupiah appreciated by 0.44% to IDR 18,080 per USD, compared to IDR 18,160 per USD at the close on 04 November 2026.

Indonesia’s financial markets ended Thursday’s trading session on a positive note, with both the JCI and the Rupiah recording gains. The market rally was supported by optimism surrounding domestic GDP growth, alongside a weaker US Dollar and declining global oil prices. Investors are now closely monitoring US employment data for further signals regarding the Federal Reserve’s monetary policy direction.

Indonesian Economic Indicators

• Q3 2026 GDP: Indonesia’s economy expanded by 5.47% YoY, exceeding market expectations of 5.2% and accelerating from 5.29% in Q2 2026. Growth was primarily supported by robust domestic consumption, exports, and the manufacturing and services sectors. Cumulatively, the economy grew by 5.45% during January–September 2026, reinforcing the outlook for achieving the government’s full-year growth target of 5.4%.
• Foreign Exchange Reserves: Indonesia’s October 2026 foreign exchange reserve data is scheduled for release this afternoon and will be closely monitored as an indicator of the country’s external resilience. In September, reserves stood at USD 146.3 billion, equivalent to 5.3 months of imports and comfortably above the internationally recognized benchmark of three months of imports.

Global Markets

Wall Street experienced a sharp correction during Thursday’s trading session. The Nasdaq plunged 5.52% to 24,315.00, the S&P 500 declined 4.36% to 7,353.73, while the Dow Jones Industrial Average fell 3.44% to 51,523.06. The steepest decline since April 2025 was driven by heavy selling pressure in technology and artificial intelligence (AI) stocks, amid concerns that the Democratic Party’s electoral victory could lead to tighter regulations and constrain data center expansion.

Global oil prices rebounded following a decline of more than 8% in the previous session. West Texas Intermediate (WTI) crude rose 3.37% to USD 91.28 per barrel, while Brent crude gained 4.7% to USD 99.23 per barrel. Uncertainty surrounding US–Iran peace negotiations, coupled with the risk of shipping disruptions in the Persian Gulf and the Strait of Hormuz, has heightened geopolitical risk premiums, despite signs of recovery in oil exports across the Gulf region. Consequently, oil prices remain vulnerable to heightened volatility.

The US Dollar Index (DXY) edged up 0.02% to 101.5 following losses in the previous session. Investors continue to assess the potential implications of the Democratic Party’s victory for US fiscal policy while awaiting employment data for further indications of the Federal Reserve’s monetary policy outlook. Currently, market participants are pricing in a 70.9% probability of a 25-basis-point interest rate hike in December.

The US released its weekly initial jobless claims data, which declined to 189K from 195K previously. The decrease indicates continued resilience in the US labor market, potentially providing support for the US Dollar and exerting downward pressure on the Rupiah.

Tonight, the US is scheduled to release its October Non-Farm Payrolls (NFP) report, with employment growth projected to increase to 65K from 29K previously, while the unemployment rate is expected to remain unchanged at 4.2%. An increase in NFP would signal a potential improvement in US labor market conditions, while a stable unemployment rate would indicate continued labor market resilience. These developments could strengthen the US Dollar and put further pressure on the Rupiah.

The Bank of England (BoE) raised its benchmark interest rate by 25 basis points to 4.00% in November 2026, from 3.75% previously, in line with market expectations. This marks the first rate hike since August 2023. The decision was driven by the outlook for UK inflation, which could reach 5% by mid-2027, alongside stronger economic activity. Nevertheless, the BoE emphasized that future monetary policy decisions will remain data-dependent, with the ultimate objective of bringing inflation back to its 2% target.

USD/IDR Outlook for Today

IDR 18,030 – 18,130 per USD

Key Indonesian Economic Indicators

Sources: CNBC Indonesia, Trading Economics, Bank Indonesia, Reuters.

Foreign Exchange Rates

Foreign Currencies Available at J Trust Bank

J Trust Bank – Bank Notes (BN) & Telegraphic Transfers (TT)

1. United States Dollar (USD)
2. Singapore Dollar (SGD)
3. Japanese Yen (JPY)
4. Euro (EUR)
5. Australian Dollar (AUD)
6. British Pound Sterling (GBP)
7. Chinese Yuan (CNY)
8. New Zealand Dollar (NZD)
9. Hong Kong Dollar (HKD)
10. South Korean Won (KRW)

Foreign Exchange Transaction Requirements Against Indonesian Rupiah

• Transactions below the threshold: Customers are required to submit a Statement Letter for transactions below the threshold, along with a copy of their identification document.
• Transactions above the threshold: Customers are required to submit a Statement Letter for transactions above the threshold, together with copies of the underlying transaction documents, Tax Identification Number (NPWP), and identification document.

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Disclaimer

Although the information contained herein has been compiled by PT Bank JTrust Indonesia Tbk (J Trust Bank) from sources believed to be reliable, J Trust Bank makes no representation or warranty, whether express or implied, as to its accuracy or completeness, and accepts no responsibility for any errors or omissions. Accordingly, the information provided herein does not constitute a guarantee of future performance and should not be relied upon as such. All information contained in this document is subject to change without prior notice. No part of this document may be reproduced in any form or by any means without the prior written consent of J Trust Bank.