◂ Event Timeline

Mar 15, 2024MACROUS

Indian rupee poised to weaken as Fed rate cut expectations recede more - Markets

The rupee was set to open lower after sticky US inflation data and a hotter producer price index cut expectations for Federal Reserve rate cuts to 75 basis points this year. US yields rose and the dollar index climbed.

WHY IT MATTERS

A stronger dollar and higher US yields raise the dollar cost of imported feed ingredients for Indian buyers.

AFFECTSDXY▲USDINR▲

SOURCE
brecorder.comReutersMar 15, 2024

Price reaction & history

DXY▲bullishSO FAR1d +0.1%5d +0.5%20d +1.1%

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.

Jan 31, 2024Indian rupee to weaken as odds of Fed rate cut in March diminish - Markets - Business Recorder+0.3%
Jun 30, 2023Indian rupee to struggle on more Fed rate hike bets; US yields surge - Markets - Business Recorder-0.4%
Sep 28, 2023Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder+0.5%
Apr 26, 2024Indian rupee to see muted reaction to US inflation flare-up - Markets - Business Recorder-0.3%
Apr 17, 2023Indian rupee declines as dollar jumps on Fed policy reassessment - Markets - Business Recorder+0.4%

USDINR▲bullish

Not enough comparable past events yet for a historical read.

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.

DXY · GP ▸

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USDINR · GP ▸

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