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The rupiah opened 0.74% stronger at 14,503 per dollar on July 27, leading Asia-Pacific currencies as the dollar weakened. Analysts cited worries over the US economic recovery, rising COVID-19 cases, and US-China tensions, along with prospects for a new US stimulus package.
Broad dollar weakness supports dollar-priced agricultural commodities, but the story is mainly about currency flows rather than a direct supply or demand change.
voi.idDidi KurniawanJul 27, 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.
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.
