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The rupee slumped to a fresh record low of 78.39 per dollar ahead of Fed Chair Powell's testimony, as the Sensex and Nifty fell. Crude oil dropped about 6% on recession fears and a US push to cut fuel taxes.
Risk-off flows into the dollar weaken emerging-market currencies such as the rupee, while lower crude eases India's import bill. Net effect on feed commodity demand from India is modest.
business-standard.comBhaskar DuttaJun 22, 2022Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
