Loading…
The Indian rupee fell 0.3% to 83.67 per dollar, an all-time low, as broad dollar strength weighed on emerging Asian currencies. The break came past the previous low of 83.575 set in April.
A record-low rupee makes dollar-priced imports more expensive for India, which can reduce its buying of vegetable oils and meal and pressure global prices somewhat.
bloomberg.comMalavika Kaur MakolJul 1, 2024Not enough comparable past events yet for a historical read.
After 40 past bearish macro events, Soybean Oil moved a median -0.8% over 5 sessions (45% higher; middle half -4.5% to +1.7%), and -1.5% over 20.
After 51 past bearish macro events, Palm Oil moved a median -1.3% over 5 sessions (35% higher; middle half -4.1% to +1.1%), and -1.8% 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.
