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Analysts expect Bank Indonesia to hold its benchmark rate to protect the rupiah, which has weakened 1.67% so far this year. Markets are pricing a high chance that the US Federal Reserve will keep rates steady at its next meeting, strengthening the dollar against Asian currencies.
A firm dollar and a Bank Indonesia hold keep import costs high for feed ingredients priced in dollars, and the currency weakness tightens feed margins in Indonesia.
bloombergtechnoz.comHidayat SetiajiFeb 20, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
