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The ringgit ended the week of November 17 to 24 weaker against the US dollar, at 4.6830/6875 from 4.6785/6825 a week earlier. Analysts expect it to trade range-bound ahead of US non-farm payrolls and the outcome of the OPEC+ meeting.
A possible OPEC+ failure to cut output could lower oil prices and weigh on the ringgit, which affects Malaysian palm oil economics. The forecast is a range-bound outlook without a firm new driver.
scoop.myBernamaNov 25, 2023Not enough comparable past events yet for a historical read.
After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% 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.
