# USD/IDR drifts higher to 15830, focus on Fed rate decision, Indonesian inflation data — Octa

> 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.

- Date: 2024-01-29 · published 2024-01-29T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/32447-usd-idr-drifts-higher-to-15830-focus-on-fed-rate-decision-indonesian-inflation
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of Fed rates on hold keep the dollar supported, which can make dollar-priced commodities more expensive for importers in emerging markets.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-02-22 | [With inflation still the focus, Fed minutes show openness to higher rates endgame](https://feedsoft.ai/events/37233-with-inflation-still-the-focus-fed-minutes-show-openness-to-higher-rates-endgame.md) | +0.6% | +0.2% |
| DXY | 2022-06-20 | [US dollar to remain resilient amid the re-pricing higher in Fed's rate expectations – ING — Octa](https://feedsoft.ai/events/41145-us-dollar-to-remain-resilient-amid-the-re-pricing-higher-in-fed-s-rate.md) | -0.9% | +1.0% |
| DXY | 2024-12-12 | [Dollar higher on fresh inflation data, euro lower after ECB rate cut](https://feedsoft.ai/events/27173-dollar-higher-on-fresh-inflation-data-euro-lower-after-ecb-rate-cut.md) | +0.6% | +2.4% |
| DXY | 2026-09-14 | [Copper Slips as Inflation Data Raises Bets on Fed Hiking Rates - Bloomberg](https://feedsoft.ai/events/17392-copper-slips-as-inflation-data-raises-bets-on-fed-hiking-rates-bloomberg.md) | +1.1% | +2.9% |
| DXY | 2021-07-28 | [United States Fed Interest Rate Decision meets forecasts (0.25%) — Octa](https://feedsoft.ai/events/46250-united-states-fed-interest-rate-decision-meets-forecasts-0-25-octa.md) | -0.4% | +0.4% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1086023/

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