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The rupiah closed 0.27% weaker at Rp15,738 per dollar on 4 November after hawkish comments from Federal Reserve Chair Jerome Powell strengthened the dollar. Analysts also cited geopolitical tensions involving North Korea and Russia and renewed COVID-19 spread in China.
US jobless claims came in slightly below forecasts.
A stronger dollar on expectations of higher US rates raises the cost of dollar-priced feed imports for Indonesian buyers. Weak Chinese demand from COVID disruptions also adds pressure on commodity prices.
antaranews.comCitro AtmokoNov 4, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
