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The ringgit rose to its highest in more than three years against the dollar, trading near 4.099 per dollar, after new Chinese stimulus measures lifted regional currencies and Chinese equities. The currency has gained about 12.6% this quarter.
Currency strength in Malaysia tied to China demand sentiment can make palm oil pricier for buyers, while Chinese stimulus hints at firmer regional feed demand.
brecorder.comReutersSep 30, 2024After 86 past neutral macro events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% 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.
