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The ringgit closed stronger against the US dollar at 4.6690/6725 on Tuesday, down from 4.6785/6830 the previous day. The move followed weak US housing data released by HUD and the Census Bureau.
Expectations of Fed rate cuts weighed on US yields and supported Asian currencies, which can ease the ringgit-denominated cost of dollar-priced feed imports for Malaysia. The effect on grain prices is small.
malaymail.comNov 28, 2023Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY 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.
