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The rupee rose for a third straight session to a two-month high of 64.31 per dollar on November 29, ahead of India's GDP release. Crude prices fell on doubts that OPEC and Russia would extend production cuts and on a rise in US crude inventories.
A stronger rupee lowers the local cost of imported edible oils, while softer crude reduces energy and freight cost pressure across feed supply chains.
business-standard.comPress Trust of IndiaNov 29, 2017Not enough comparable past events yet for a historical read.
After 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.
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.
