ICDX tin price movements experienced a decline of 3.21% in a week to level 26,560 which was influenced by market concerns following the Fed's decision to keep interest rates unchanged. The US Federal Reserve kept interest rates unchanged on Thursday (21/09) , but tightened the monetary policy stance hawkish with a projected further increase in interest rates at the end of this year, which could hamper the pace of economic growth and demand for Tin. Apart from that, it is also feared that the Fed's stance to maintain its interest rate policy unchanged will be followed by other central banks. Meanwhile, China on Wednesday vowed to speed up the implementation of more policies to consolidate its economic recovery, state media CCTV quoted on Wednesday as saying (20/09), citing a cabinet meeting chaired by Premier Li Qiang, after the economy showed signs of temporary stabilization.

ICDX oil contract prices closed higher at $91.22 per barrel for the week ended September 15 on expectations of an extension of global supply cuts amid rising demand.

CPOTR price movements increased within a week to IDR 13,397/Kg, triggered by concerns about global supply disruption due to the threat of El Nino in the Southeast Asia region.

ICDX gold prices strengthened by 1.07% compared to the previous week, supported by a series of US economic data showing signs of economic weakened boost expectations that interest rates will remain stable at the next Fed meeting. The US Secretary of Commerce visit to Beijing to discuss a number of commercial issues have become focus considering that both are the world's two largest economies.

This study aims to find empirical evidence of how far macroeconomic variables affect the returns of ten FRSC investment instruments: AUD/USD, EUR/USD, GBP/USD, USD/JPY, USD/CHF, GBP/JPY, EUR/JPY, AUD/NZD, NZD/USD, and USD/CAD traded at Indonesia Commodity & Derivatives Exchange (ICDX) during the period 2021 - 2022. The study results showed that the determinant of interest rate and inflation did not affect FRSC return; JCI return and gold price return had a significant positive on FRSC return; bond index return and crude oil price return had a negative effect on FRSC return.

ICDX tin price movement strengthened by 1.04% in a week to a level of 28,715 which was influenced by the interest rate cut by the Central Bank of China with the aim to help homebuyers, including lowering mortgage rates for first-time homebuyers and down-payment ratios. China's Central Bank cuts interest rates moderately. China announced an unexpected move by slashing the one-year lending rate by 10 basis points to 3.45%, but keeping the five-year rate unchanged at 4.20% so far this year and becoming one of Asia's worst performing currencies. In addition, there are wider concerns about the currency's rapidly weakening yuan. Based on observations, the yuan has lost nearly 6% against the US dollar so far this year and is one of the worst performing Asian currencies. The Central Bank's move at the same time triggered market disappointment that hoped for a more aggressive stimulus to restore the economy of one of the world's first largest tin importing countries.

ICDX’s oil contract price closed lower at $81.39 a barrel for the week ended Aug. 18, as concerns over an economic slowdown in major oil importer China weighed on prices.

CPOTR price movement decreased in a week to a level of IDR 11,805/Kg triggered by the weakening demand, especially from Europe, which increased Malaysia's CPO stocks. On the other hand, there is hope for a return to the Black Sea Agreement.