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The Indian rupee closed flat at 94.90 per dollar as traders stayed cautious ahead of US midterm elections. Brent crude slid over 4% to $108.3 a barrel on hopes for a deal to end the Iran war, after Iranian negotiators left Doha talks, and the dollar index fell about 0.5%.
Lower crude prices on Iran peace hopes reduce energy and freight cost pressure for feed production and imports, while a softer dollar eases the cost of dollar-priced grain and meal. The outcome of the US midterms is seen as a key swing factor for the dollar and oil.
bfsi.economictimes.indiatimes.comNov 2, 2026After 312 past bearish macro events, BRENT moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
