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A Reuters poll expects the rupee to stay weak, citing a widening trade deficit driven by higher oil prices and expectations of a prolonged Fed tightening cycle. The rupee had fallen about 11% year to date to a record low of 83.29 per dollar in October.
Persistent rupee weakness plus high oil import costs widens India's trade gap and keeps the currency pressure on importers of vegetable oils and other commodities priced in dollars.
reuters.comAnant ChandakDec 7, 2022Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
