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Rupiah faces volatility amid shifting US economic data and Fed policy expectations
The Indonesian Rupiah has experienced significant volatility against the US Dollar, fluctuating between Rp17,850 and Rp17,960 in recent trading sessions. While some sessions saw the currency strengthen due to cooling US economic indicators, it remains under pressure from global factors.
Weak US economic data has shifted market expectations regarding the Federal Reserve's monetary policy. US non-farm payrolls grew by only 29,000 in September, significantly missing expectations of 84,000 to 90,000. Additionally, the US unemployment rate rose to 4.2 percent. These developments have reduced the perceived likelihood of a Federal Reserve interest rate hike during the October meeting.
Despite these cooling signals, the Rupiah faces headwinds from a strong US Dollar Index and high US Treasury yields, which have remained near levels not seen since 2002. Other contributing factors include geopolitical tensions in the Middle East, which have impacted fuel import sources for Indonesia, and fluctuations in global gold prices.
Entities
Ansarullah · Aramco · Bank Indonesia · Bitcoin · Federal Reserve · Indonesia · Indonesian rupiah · Middle East · Rupiah · Rupiah · Saudi Aramco · US dollar
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] The US Dollar Index (DXY) rose to 101.9. ekbis.harianjogja.com
- [● 4 SOURCES] The US unemployment rate increased to 4.2 percent in September. www.antaranews.com · www.viva.co.id
- [● 4 SOURCES] US non-farm payrolls grew by only 29,000 in September, missing the 84,000 or 90,000 expectations. www.antaranews.com · www.viva.co.id
- [● 6 SOURCES] The 10-year US Treasury yield reached 5.26 percent. ekbis.harianjogja.com · www.rri.co.id
- [● 5 SOURCES] Crude oil prices rose above 102 USD per barrel. ekbis.harianjogja.com
- [● 7 SOURCES] Rupiah weakness is driven by external factors including rising oil prices, US Treasury yields, and the US Dollar Index. ekbis.harianjogja.com · jawapos.com · insight.kontan.co.id · www.jpnn.com
- [● 6 SOURCES] Ansarullah claimed to have attacked the Aramco oil refinery in Riyadh, Saudi Arabia, with ballistic missiles and drones. ekbis.harianjogja.com · www.inews.id
- [● 2 SOURCES] Indonesia has lost 25 percent of its fuel import sources due to the Middle East conflict. www.inews.id
- [● 4 SOURCES] Rupiah opened lower by 21 points or 0.12 percent to the level of Rp17,903 per US dollar from the previous closing position of Rp17,882 per US dollar. ekbis.harianjogja.com