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The USD/IDR pair dropped to about 15,050 after Indonesia reported fourth-quarter GDP growth of 0.36% quarter on quarter, slightly above forecasts. The rupiah was supported as Indonesia posted its best annual growth in nine years in 2022.
Risk aversion tied to China and the Fed capped gains.
Solid growth supports rupiah demand and keeps Indonesian feed import costs contained. Strong domestic demand also supports feed consumption.
octaafrica.netFeb 6, 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.
