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Bank Indonesia Governor Perry Warjiyo blamed external factors for the rupiah falling to Rp14,315 per dollar, citing stronger US manufacturing data, euro weakness on ECB stimulus hints, higher oil prices from US sanctions on Venezuela, and geopolitical risk. Domestic indicators such as foreign inflows were described as sound.
A weaker rupiah raises Indonesia's cost of imported feed ingredients and fuel, and the higher oil prices cited add to feed production and freight costs.
thejakartapost.comNews DeskMar 8, 2019Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
