Loading…
Most Asian currencies advanced on February 23 as markets watched the Ukraine crisis and expected US rate hikes in March. The Indian rupee led gains, helped by a pullback in oil prices after the first wave of Western sanctions on Russia appeared unlikely to disrupt oil supplies.
Currency moves in energy importers like India affect their purchasing power for feed ingredients and vegetable oils. Calmer oil prices reduce near-term cost pressure on feed buyers.
brecorder.comReutersFeb 24, 2022Not enough comparable past events yet for a historical read.
After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% 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.
