Indonesia’s Rupiah and Stocks Rally Before Elections Results

Indonesia’s stock market and currency rallied ahead the expected announcement of the country’s new leader on Tuesday as markets shrugged off warnings of alleged cheating by one of the presidential candidates.
The benchmark Jakarta Composite index rose nearly one percent while the rupiah tacked on 0.5 percent against the greenback to a more than one-week high on Monday after individual tallies from the General Elections Commission (KPU) on Sunday declared Jakarta Governor Joko Widodo victorious with 53 percent of the vote, as reported by the Jakarta Globe on Monday.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza