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Indian bond prices fell and the rupee weakened to around 74.51 per dollar after Jerome Powell was renominated for a second term as Fed chair. Investors raised bets that the Fed would tighten policy sooner, and Asian emerging-market currencies and stocks slipped.
Oil also fell on talk of coordinated crude reserve releases.
A hawkish Fed lifts the dollar and raises emerging-market borrowing costs, which can pressure import-dependent buyers' currency costs. Lower crude on reserve-release talk eases energy and freight costs for feed supply chains.
thehindu.comReutersNov 23, 2021After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.
