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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.
Weekly Report
Wednesday, 30 August 2023
Publication
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.
Weekly Report
Wednesday, 23 August 2023
Publication
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.
Weekly Report
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.
Weekly Report
Thursday, 10 August 2023
Publication
ICDX gold price weakened by -1.20% compared to the previous week influenced by various positive US data strengthen the dollar and gloomy Chinese economic data. The dollar index experienced a weekly gain of 0.14%.
Weekly Report
The movement of ICDX tin prices strengthened by 3.23% in a week to a level of 30,050 influenced by China's steps to increase economic policy support with a focus on increasing domestic demand. But the increase in world tin prices amid the threat of rising interest rates. The Federal Reserve is raising interest rates by 25 basis points on schedule. Fed Chair Powell said at a subsequent news conference that inflation in the United States remains high. The hike raised the target range for the benchmark interest rate overnight to 5.25-5.50%, and the accompanying policy statement left the door open for another hike. The increase in interest rates was in accordance with market estimates so that prices strengthened. On the negative side, tin prices fell due to macroeconomic sentiment following the release of US data which boosted the US dollar index. The market has positive expectations for refined tin consumption in the third quarter, but downstream consumption has recently been in an off-peak period. High tin prices have hampered downstream procurement enthusiasm, and refined tin inventories at home and abroad are expected to increase slightly this week. Tin prices were affected by the successive increases in interest rates in Europe and the US in July, in line with market expectations.
Articles
Friday, 28 July 2023
Publication
Timah memainkan peran penting dalam berbagai industri manufaktur, termasuk otomotif, elektronik, dan konstruksi. Keserbagunaan dan kelangkaannya menjadikannya komoditas yang dicari dengan nilai pasar yang tinggi.
Weekly Report
Wednesday, 26 July 2023
Publication
The price of ICDX oil contract closed higher at $76.89 per barrel for the week ending July 21, amidst various market sentiments providing support for prices, including unexpected supply disruptions in Libya and Nigeria In the middle long-term production cuts being made by OPEC and Saudi Arabia, and declines in US crude oil stocks reported by the Energy Information Administration (EIA).
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