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The rupiah closed weaker at 14,398 per dollar on December 2, pressured by concerns over the Omicron variant and expectations that the US Federal Reserve would accelerate the end of its bond purchases. Indonesia had not yet detected the variant at that time.
Expectations of faster Fed tightening strengthen the dollar and raise the local-currency cost of imported feed ingredients, while Omicron fears add pressure on energy and commodity demand.
antaranews.comCitro AtmokoDec 2, 2021Not 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.
