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The US economy contracted 32.9% annualized in Q2 2020, the steepest drop on record, confirming a technical recession after a 5% Q1 decline. The US dollar index fell to about 92.8, its lowest in over two years, while the rupiah weakened 0.41% to 14,530 per dollar on July 30 after seven sessions of gains.
A weaker dollar tends to support emerging-market currencies and firm dollar-denominated commodity prices, while a deep US recession signals weaker future feed demand from the US economy.
cnbcindonesia.comPutu Agus PransuamitraJul 31, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
