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USD/IDR traded near 15,830 on January 29, 2024, after retreating from a 2024 high of 15,844. It was on track for a fifth straight weekly gain.
The market expected the Fed to hold rates at 5.25% to 5.50% at its January meeting, and investors awaited Indonesia's inflation data.
Expectations of Fed rates on hold keep the dollar supported, which can make dollar-priced commodities more expensive for importers in emerging markets.
octaafrica.netJan 29, 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.
