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The ringgit closed lower against the US dollar at 4.3605/3640, with cautious sentiment ahead of the US presidential election. Analysts expect the greenback to stay firm as the Federal Reserve moves slowly on rate cuts.
A soft ringgit with a firm dollar tends to support palm oil's competitiveness for buyers but signals broader dollar strength that can cap dollar-denominated commodity prices.
malaymail.comOct 28, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
