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A BCA research note says consumption in Indonesia is weakening and that shifting market expectations are putting depreciation pressure on the rupiah. It notes a resilient US labour market and loose liquidity may keep the Fed on a tighter-for-longer path.
It also warns that a narrowing trade surplus and smaller rate spread will test the rupiah.
Rupiah depreciation raises the local cost of imported feed ingredients and can soften domestic demand for animal protein. A tighter-for-longer Fed would keep pressure on emerging-market currencies.
bca.co.idFeb 14, 2023Not enough comparable past events yet for a historical read.
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.
