The price of the ICDX oil contract on a weekly basis closed higher by 6 percent for the week ended March 3 supported by sentiment from the release of China's latest economic data showing February's manufacturing sector grew at its fastest pace in more than a decade.
Price movements at CPOTR increased by 2.54% in a week to the level of IDR 13,715/Kg. The strengthening of CPO prices was triggered by positive sentiment both from within the country and abroad which also supported CPO prices.
ICDX gold price weakened by -0.65% compared to the previous week with the dollar index sentiment strengthening 0.57% after a series of US economic data gave rise to market expectations of a tighter policy by the US central bank.
The price of the ICDX crude oil contract for the week ending February 3 was observed to have moved down by 6% in a week, which was triggered by anticipation of various sentiments in the market ahead of the imposition of an embargo and price limit on Russian refined petroleum products on February 5. One of the main focuses is on the steps taken by OPEC+ in an effort to maintain the stability of global energy markets.
Price movements of CPOTR increased by 1.94% in a week to the level of IDR 13,160/Kg. Price movement sentiments include optimism over the opening of China's territory which will boost China's state economy and European Union deforestation regulations.
The ICDX gold price strengthened by 0.62% compared to the previous week with the driving factor of the dollar index which weakened by -0.55% following the release of various US economic data amid expectations of a slowdown in The Fed's interest rate hike.