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The ringgit has persistently weakened past 4.73 per dollar despite a China-led risk rally following a 278 billion dollar rescue package and a 50 basis point cut in the reserve requirement ratio. Kenanga attributes the weakness to global growth concerns and recalibrated expectations for Fed easing.
A weaker ringgit lowers the dollar cost of Malaysian palm oil, which can support export demand, while the Fed easing outlook drives broader dollar moves that affect commodity prices.
businesstoday.com.myJan 26, 2024Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
