Loading…
Bank Indonesia said the rupiah's recent weakness against the dollar was anomalous, since Asian currencies fell even as the dollar index declined. The rupiah touched Rp 15,000 on June 20 and BI linked the pressure to yuan depreciation driven by China's weak growth outlook.
Yuan weakness and rupiah pressure raise the local cost of imported feed for Indonesian buyers, and weak Chinese demand signals softer import demand for feed commodities.
money.kompas.comRully R. RamliJun 22, 2023Not enough comparable past events yet for a historical read.
After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
