# Rupiah heads for test of key support as trade outlook darkens - The Gulf Time Newspaper

> 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.

- Date: 2022-08-30 · published 2022-08-30T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/40337-rupiah-heads-for-test-of-key-support-as-trade-outlook-darkens-the-gulf-time
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- USDIDR: bullish ▲
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-05-23 | [Sideways trading seen for the ringgit as trade tensions worsen \| Malay Mail](https://feedsoft.ai/events/53396-sideways-trading-seen-for-the-ringgit-as-trade-tensions-worsen-malay-mail.md) | +9.7% | +16.2% |
| PALMOIL | 2020-02-28 | [Palm oil heads for worst week in 11 years on demand destruction \| The Star](https://feedsoft.ai/events/5815-palm-oil-heads-for-worst-week-in-11-years-on-demand-destruction-the-star.md) | -4.9% | -14.0% |
| PALMOIL | 2018-10-03 | [Indonesian rupiah falls to record low amid rising pressures \| The Straits Times](https://feedsoft.ai/events/62836-indonesian-rupiah-falls-to-record-low-amid-rising-pressures-the-straits-times.md) | +1.6% | +1.4% |
| PALMOIL | 2022-07-01 | [Palm oil falls 4% on recession fears, higher supply outlook - Markets - Business Recorder](https://feedsoft.ai/events/6225-palm-oil-falls-4-on-recession-fears-higher-supply-outlook-markets-business.md) | -24.3% | -29.0% |
| PALMOIL | 2017-08-30 | [Strong euro supports biodiesel prices despite falling veg oils  : The Daily Digest](https://feedsoft.ai/events/69542-strong-euro-supports-biodiesel-prices-despite-falling-veg-oils-the-daily-digest.md) | +3.6% | +5.8% |

## Sources

- gulftime.ae: https://gulftime.ae/rupiah-heads-for-test-of-key-support-as-trade-outlook-darkens/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.