Meanwhile, crude oil prices are expected to remain weakening ahead of the Organization of the Petroleum Exporting Countries (OPEC) meeting today. However, so far today crude oil has stabilized (after tumbling futures on Friday) on the back of growing assumption that the joint OPEC and non-OPEC ministerial meeting will address rising crude production in Nigeria and Libya, two OPEC members exempted from the cuts.

Also in Indonesia most listed companies are set to release their H1 corporate earnings reports over the next two weeks. Thus, market participants are highly focused on these reports. Besides these reports there are no expected other (economic) data from Indonesia that impact either negatively or positively on Indonesian stocks this week. Therefore, external matters will be key.

It is worth keeping an eye on the performance of Tiga Pilar Sejahtera Food today. Last Friday the company's shares fell nearly 25 percent after police raided one of its warehouses.

Read more: Stock Alert Indonesia: Shares Tiga Pilar Sejahtera Food Under Pressure

Last Friday (21/07), US stocks fell. The declines of the S&P 500 and Nasdaq composite were limited at 0.04 percent (both). The Dow Jones Industrial Average fell slightly more (0.15 percent), dragged down by a 2.9 percent drop in General Electric shares (due to disappointing earnings).

Meanwhile, the US dollar is expected to remain near a 14-month low, while the Euro continues to strengthen, especially after European Central Bank (ECB) President Mario Draghi spoke on Thursday (20/07). Despite the ECB leaving its monetary policy unchanged, the euro strengthened as markets expect the ECB will announce a cut in the amount of bonds it is willing to buy from €60 billion to €40 billion in September. Moreover, the ECB seems untroubled by recent euro strength.

Another reason why the US dollar is being held back is by trouble at the White House as it is still being investigated what the influence of Russia was in the latest US election. Meanwhile, many doubt Donald Trump's ambitious economic plans can be achieved.