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The rupee closed at 74.32 per dollar, weakening 9 paise as the dollar strengthened globally. Brent crude futures rose to about $75.19 a barrel, adding pressure on the currency.
A weaker rupee and higher crude raise the local cost of imported feed and energy in India. The move is routine market commentary driven by the dollar and oil.
daijiworld.comJun 30, 2021Not enough comparable past events yet for a historical read.
After 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.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
