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The ringgit reached a 28-month high against the US dollar after the Federal Reserve signaled it was time to adjust policy. Local coverage also flagged a possible strong El Niño expected in November.
Fed easing signals a weaker dollar, which supports dollar-priced commodities, while a firmer ringgit trims Malaysian palm oil's competitiveness; a possible strong El Niño could later tighten palm supply.
nst.com.myAug 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.
