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The rupiah rose 26 points to close at 13,992 per dollar on optimism about a US-China trade deal. Trump postponed a planned tariff increase on Chinese goods set for March 1 and planned a summit with Xi Jinping, and lower crude prices also supported the currency.
Progress toward a US-China deal supports expectations of higher Chinese purchases of US soybeans and grains, while lower crude prices reduce Indonesia's fuel import bill.
en.antaranews.comFeb 26, 2019Not enough comparable past events yet for a historical read.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), 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.
