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The rupiah closed up 33 points at Rp 14,674 per US dollar on April 28, 2023, as US first-quarter GDP growth slowed to 1.1% annualized from 2.6% in the fourth quarter. Analysts expect the Federal Reserve may ease rates later in the year.
A weaker US economy and expected Fed easing tend to weaken the dollar, supporting emerging-market currencies such as the rupiah. For feed buyers in Indonesia, a firmer rupiah lowers the local-currency cost of imported feed ingredients like corn and soymeal.
investor.idGrace El DoraApr 28, 2023Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
