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Maybank Investment Bank expects the ringgit to end 2024 at 4.60 per US dollar, citing expected Fed rate cuts totalling 75 basis points this year and Bank Negara Malaysia holding its overnight rate at 3%. The bank also cited positive real GDP growth and political stability as supports.
A forecast of ringgit appreciation reflects a weaker dollar outlook that can modestly support commodity prices priced in USD, though palm oil supply drivers remain dominant.
scoop.myBernamaJul 23, 2024Not 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.
