Loading…
The ringgit opened higher on December 14 after the Fed signalled interest rate cuts for 2024, with the dollar index falling 0.96% to 102.869. The Fed held its policy rate at 5.25% to 5.50% but projected easing ahead, and the two-year Treasury yield fell 27 basis points.
A softer dollar tends to support commodity prices priced in dollars, which can lift feed grain and oilseed prices for importers, though this report is mainly about the ringgit's daily move.
nst.com.myDec 14, 2023After 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.
