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TD Securities expects the rupiah to strengthen to 14,057 per dollar within three months, matching its October 2021 high. The forecast cites Indonesia's trade surplus, attractive bond yields, rising palm oil exports to China and expected rate hikes.
A stronger rupiah lowers the local cost of imported feed ingredients, while rising palm oil exports to China signal firm demand for Indonesian vegetable oil.
bloomberg.comMatthew BurgessAug 11, 2022Not enough comparable past events yet for a historical read.
After 38 past bullish macro events, PALMOIL moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +3.0%), and -0.3% 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.
