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The Indonesian rupiah weakened past 15,000 per US dollar for the first time in about 20 years as sentiment toward emerging-market assets soured and oil prices jumped. The currency has fallen almost 10 percent this year amid rising US interest rates and a large current-account deficit.
A weaker rupiah raises the local cost of imported feed inputs and raises Indonesia's import bill for oil and other goods, which can squeeze feed-mill margins and limit demand for imported grain and meal.
bloomberg.comRuth Carson, Y-Sing LiauOct 2, 2018Not enough comparable past events yet for a historical read.
After 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.
