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The rupiah strengthened 15 points to Rp13,295 per dollar on Tuesday, with analysts saying the dollar was restrained as Fed Chair Yellen was not expected to signal a rate hike. Oil rose on OPEC production cuts, with WTI at $53.35 and Brent at $56.08 per barrel.
Higher crude prices from OPEC cuts support biofuel economics and feedstock values, while a softer dollar supports dollar-priced commodity demand from Indonesian buyers.
antaranews.comZubi MahrofiFeb 14, 2017After 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.
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.
Not enough comparable past events yet for a historical read.
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.
