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Rising oil prices weighed on the rupiah on April 22, 2019, with the currency down 0.24% to Rp14,078 per dollar in spot trading. Brent rose from $71 to about $73 per barrel, raising investor fears of a wider current account deficit.
Oil-driven currency weakness raises the cost of imported feed and fuel for Indonesian buyers. The story describes an FX move, not a change in grain or feed supply.
investasi.kontan.co.idGrahanusa MediatamaApr 22, 2019After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
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.
