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The rupee closed 0.44% higher at 70.56 per dollar on September 27, 2019, its strongest level in nearly two months. Brent fell 2.56% to about $61 a barrel after reports of a partial Saudi ceasefire in Yemen and near-normal Saudi oil output.
Lower crude reduces energy and freight costs and eases the pressure on oil-importing emerging-market currencies. The price drop reflects the easing of the Saudi supply shock.
asianage.comDC CorrespondentSep 27, 2019After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Not 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.
