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The rupee held near 74.45 per dollar as the IMF cut India's FY2021 GDP forecast to 9.5% and India reported 43,654 new COVID infections. Markets were positioned ahead of the Fed meeting, where tapering was expected.
Weaker Indian growth outlook reduces near-term demand for feed and protein, while the pre-Fed dollar tone affects import costs for Indian feed buyers.
octaafrica.netJul 28, 2021Not 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.
