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The rupiah strengthened as oil prices retreated after President Donald Trump said further military action against Iran was highly unlikely if progress continued on Iran’s nuclear program and the Strait of Hormuz remained open. Strong US payrolls, which exceeded forecasts, and market expectations of a December Fed rate increase limited the dollar’s losses; Bank Indonesia was also intervening to contain currency volatility.
Lower oil prices ease Indonesia’s energy-import costs and reduce demand for dollars, supporting the rupiah and lowering local-currency costs for imported feed inputs. The strong US jobs report and rate expectations may limit that support.
tmgm.comAkhtar FaruquiNov 9, 2026Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
