Market Update 9 Nov 2026

At the close of the financial markets on Friday, 6 November 2026:

• The Jakarta Composite Index (JCI) strengthened by 0.4%, closing at 5,050.43.
• The Indonesian Rupiah weakened slightly by 0.03%, closing at IDR 18,080 per USD.

In Friday's trading session last week, the JCI closed higher, while the Rupiah marginally weakened against the US Dollar. The JCI's gain appeared to be supported by optimism surrounding domestic economic conditions, while the Rupiah came under pressure from stronger-than-expected US labor market data, which could potentially fuel inflationary pressures in the United States. These developments reflect relatively strong domestic investor optimism, although global investor concerns over the prospect of persistently high US Federal Reserve interest rates continue to weigh on financial markets.

Domestically, several developments remain in focus, including the Export Proceeds from Natural Resources (DHE SDA) policy. The government has revised the maximum conversion requirement for DHE SDA from the previous 50% to 100%. The revised policy is targeted for implementation by the end of November to support the availability of Rupiah liquidity for domestic exporters' operational requirements.

Today, Bank Indonesia is scheduled to release the Consumer Confidence Index (CCI) for October 2026. This indicator is worth monitoring to assess developments in consumer purchasing power and public perceptions of the economic recovery, which is expected to continue improving. Furthermore, on Tuesday, 10 November 2026, Bank Indonesia will release Retail Sales data for September 2026. Stronger retail sales growth would further reinforce positive market sentiment and economic optimism.

Global

In the United States, equity markets closed mixed in Friday's trading session last week. The Dow Jones Industrial Average declined by 0.46%, while the S&P 500 gained 0.31% and the Nasdaq Composite advanced 1.09%. Technology stocks regained investor interest following the previous day's sell-off, which had been triggered by concerns over a potential slowdown in data center construction and expansion.

On Friday, the United States reported a significant increase in Nonfarm Payrolls (NFP), with 165,000 jobs added outside the agricultural sector in October 2026. This figure was nearly three times higher than the market consensus estimate of 59,000. Strong labor market data could sustain inflationary pressures, potentially influencing the US Federal Reserve's monetary policy stance and supporting the continuation of elevated interest rates.

Oil prices extended their downward trend, with West Texas Intermediate (WTI) declining by 0.87% to USD 90.49 per barrel, while Brent crude fell by 1.61% to USD 97.63 per barrel. The decline in oil prices was supported by optimism over the possibility of de-escalation in the US–Iran conflict, following President Donald Trump's remarks indicating potential progress in nuclear negotiations and the reopening of the Strait of Hormuz.

Today, China is scheduled to release its Consumer Price Index (CPI) data for October 2026, an important indicator for assessing the recovery in domestic demand and inflationary pressures in the country. On Tuesday, China is also scheduled to release its October 2026 trade balance data, which market participants will closely monitor to assess export momentum and demand for industrial raw materials.

On Tuesday, the United States is scheduled to release its headline and core CPI data for October 2026, which will serve as key indicators for assessing the inflation trajectory and shaping expectations regarding the Federal Reserve's interest rate policy. Subsequently, on Friday, the United States will release its October 2026 Producer Price Index (PPI), which measures developments in production cost pressures following the sharp increase recorded in September, primarily driven by a surge in energy prices.

Sources: CNBC Indonesia, Refinitiv, Trading Economics, and Bank Indonesia Website.

NDF Exchange Rate as of 08:59 WIB: 18,108 / 18,117

USD/IDR Forecast for Today: 18,080–18,180

Bank Indonesia Monetary Indicators

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

Available Foreign Currencies:

1. US 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 the Rupiah:

• Transactions with a value equal to or below (≤) the applicable threshold: Customers are only required to submit an Under-Threshold Declaration Letter and a copy of their identification document.
• Transactions with a value exceeding (>) the applicable threshold: Customers are required to submit an Over-Threshold Declaration Letter, a copy of the underlying transaction documents, Taxpayer Identification Number (NPWP), and identification document.

Contact J Trust Bank Indonesia Treasury Sales:

Telephone: (021) 2926-1114 (Hunting)

• Bintang: 0812 2650 949
• Hanif: 0811 8762 001
• Naomi: 0877 0633 1585
• Ade: 0821 6939 7410

Disclaimer

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