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The ringgit rose to a near 28-month high of about 4.35 per dollar on August 26, supported by expectations of a US rate cut in September. Analysts said the dollar was weakening on prospects of lower US rates.
A firmer ringgit against a weakening dollar changes the cost of Malaysian palm oil and other ringgit-linked commodities for buyers, and signals broader dollar softness that can support dollar-priced commodities.
malaymail.comAug 26, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
