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The rupee, Asia's best performer over the past three months, faces seasonal weakness in the April-June quarter, with gold purchases ahead of Akshaya Tritiya and firm Brent crude expected to pressure the currency. A Bloomberg survey median sees the rupee at 66.50 per dollar by end-June.
Rising gold and oil import demand weakens the rupee, which lifts the dollar price of India's imports and could increase India's import bill for oil and related commodities.
gulf-times.comBloomberg/MumbaiApr 23, 2017Not 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.
