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The rupiah opened weaker against the US dollar on January 31, 2024, at about Rp 15,811 per dollar. The move followed stronger US JOLTS job openings and a rise in Conference Board consumer confidence.
Analysts expected the dollar to stay firm ahead of the Fed's FOMC decision that evening.
A firmer dollar and stronger US data reduce expectations of near-term Fed cuts, which supports the dollar index and can weigh on dollar-priced commodity demand from Asian importers.
investor.idGrace El DoraJan 31, 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.
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.
