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The ringgit closed higher against the US dollar on July 27 at about 4.52, helped by rising oil prices and the Federal Reserve's 25 basis point rate hike. Analysts said a dovish Fed could push USD/MYR toward support near 4.49, while state elections pose short-term risk.
Currency moves that favour the ringgit reduce the local cost of imported feed inputs, while Brent gains add to energy and freight costs. The net effect on feed prices is modest.
malaymail.comJul 27, 2023Not enough comparable past events yet for a historical read.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
