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The ringgit is expected to trade higher against the US dollar next week, with analysts citing sustained local demand and a likely breach of the RM4.3030 support level. Key data to watch include Bank Negara's policy meeting and the US non-farm payrolls report.
A stronger ringgit makes Malaysian palm oil more expensive in dollar terms for importers, which can weigh on palm oil prices, while a firm dollar-ringgit trend shapes regional feed purchasing costs.
malaymail.comAug 31, 2024Not enough comparable past events yet for a historical read.
After 86 past neutral macro events, PALMOIL moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% 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.
