The performance of the Rupiah exchange rate throughout the trading session this week was finally able to stop selling pressure. Especially in the last two days of trading sessions, the Rupiah movement recorded a successive strengthening.
One part of the collapse of the US Dollar index, became the main supporter of the strong Rupiah in the last two days of trading session this week. But the problem is now interesting, considering the position of the US Dollar index finally strengthened (although in a moderate level) in the session this weekend, Friday (6/12).
Monitoring shows, the position of the Dollar index closed in the range of 97.68 in the trading session that ended a few hours ago. Market participants appear to have responded positively to the release of the latest US employment data under the shocking leadership of President Donald Trump.
A more detailed report states, the US unemployment rate is now in the range of 3.5%, while the number of workers added throughout November has reached 226,000. Selling pressure experienced by the US dollar on several days of the previous trading session was finally restrained at this weekend's session.
Upward movement of the Dollar index at this weekend's session will certainly be less profitable for the Rupiah at the beginning of next week's session. However, with the rate of increase in the US Dollar index which is in a limited level, the prospect of the Rupiah is believed to be still bright enough to continue the strengthening movement.
It's just that market participants find it hard to expect a lot of Rupiah to post a sharp strengthening. It is estimated that the Rupiah will still be trapped again in a limited range of motion, and the strengthening trend will remain. Therefore, the Rupiah is not expected to be far from the closing session this week in the range of IDR 14,035 per US Dollar in starting the trading session next week.