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A technical outlook for the rupee expects the dollar to firm on higher crude prices and foreign fund outflows. It cites Iran tensions and a seized UK tanker that could disrupt Strait of Hormuz shipments, and it expects a Fed rate cut and US-China talks to help the rupee recover.
Higher crude and a firmer dollar raise import costs for India and can weigh on local feed ingredient prices. The forecast is analyst opinion, so the impact is uncertain.
grainmart.inHima BindhuJul 29, 2019Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
