# Rupiah Rises Following Weak US PMI Report and Fed Speculation

> The rupiah strengthened to close at Rp15,187 per dollar on Tuesday after US S&P Global composite PMI for September came in at 54.4, slightly above the 54.3 expected. Manufacturing PMI fell to 47.0, showing deeper contraction, and expectations for a 50 basis point Fed cut in November diminished.

- Date: 2024-09-24 · published 2024-09-24T12:00:00.000Z
- Category: report · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/28626-rupiah-rises-following-weak-us-pmi-report-and-fed-speculation
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Weaker US manufacturing data and reduced odds of aggressive Fed easing shape dollar direction, which feeds into the cost of dollar-priced feed ingredients for Indonesian buyers. The effect on grain prices is small.

## Read by commodity

- DXY: neutral
- USDIDR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-09-27 | [As the US Dollar weakens, the British Pound rises, reversing its recent decline against it - VT Markets](https://feedsoft.ai/events/23148-as-the-us-dollar-weakens-the-british-pound-rises-reversing-its-recent-decline.md) | -0.3% | +0.3% |
| DXY | 2020-04-01 | [Trade Weighted US Dollar Index: Broad, Goods and Services (I:TWUSDIBG)](https://feedsoft.ai/events/54306-trade-weighted-us-dollar-index-broad-goods-and-services-i-twusdibg.md) | +0.5% | +0.7% |
| DXY | 2019-02-21 | [FOMC members want plan to end balance sheet reduction, minutes show - Central Banking](https://feedsoft.ai/events/60509-fomc-members-want-plan-to-end-balance-sheet-reduction-minutes-show-central.md) | -0.5% | -0.4% |
| DXY | 2023-05-10 | [Dollar in holding pattern, inflation data provides little clarity on rates \| Reuters](https://feedsoft.ai/events/36142-dollar-in-holding-pattern-inflation-data-provides-little-clarity-on-rates.md) | +0.3% | +0.9% |
| DXY | 2023-10-11 | [Dollar steady on underlying moderate PPI data, dovish Fed officials](https://feedsoft.ai/events/33532-dollar-steady-on-underlying-moderate-ppi-data-dovish-fed-officials.md) | +0.2% | -0.7% |

## Sources

- jakartaglobe.id: https://jakartaglobe.id/business/rupiah-rises-following-weak-us-pmi-report-and-fed-speculation

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.