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Brent crude rose above $80 a barrel for the first time since 2014, while political uncertainty ahead of Indian elections weighed on the rupee. The rupee sits about 3% below analyst year-end targets, and some strategists expect it to break the 2016 record low of 68.865 per dollar.
Higher oil prices widen India's current-account deficit and fuel inflation, which tends to weaken the currency further and can limit import demand for feed ingredients.
hindustantimes.comSubhadip SircarMay 22, 2018Not enough comparable past events yet for a historical read.
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.
