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The rupiah is expected to test key support as falling commodity prices, a possible nickel export levy and slow Bank Indonesia rate hikes weigh on it. Indonesia's trade surplus narrowed to $4.2 billion in July from $5.1 billion in June.
Weaker export earnings and a softer rupiah raise the cost of imported feed ingredients for Indonesian buyers, while falling commodity prices point to lower export values for palm and other agricultural goods.
gulftime.aeAdminAug 30, 2022Not enough comparable past events yet for a historical read.
After 51 past bearish macro events, Palm Oil moved a median -1.3% over 5 sessions (35% higher; middle half -4.1% to +1.1%), and -1.8% 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.
