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The Indian rupee was expected to open broadly flat on Tuesday, with dollar demand and likely central bank support limiting moves near its record low of 83.50. The yen was volatile after a suspected Japanese intervention, and traders were awaiting the Federal Reserve's policy decision on Wednesday, which was widely expected to hold rates.
A weaker rupee raises India's import costs and can influence Indian demand for dollar-priced commodities, while a firm dollar on Fed hold expectations generally pressures dollar-denominated grain and oilseed prices.
brecorder.comReutersApr 30, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
