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The ringgit opened stronger against the US dollar and several major currencies on July 27 after the Fed raised its key rate to 5.50%, a 22-year high. The US Dollar Index eased to 101.02 and the two-year Treasury yield slipped, and analysts said the Fed will stay data-dependent.
A weaker dollar and firmer ringgit lower the local cost of imported feed ingredients, while the Fed's stance shapes global dollar-denominated commodity prices. The price effect on feed is small.
nst.com.myBernamaJul 27, 2023Not enough comparable past events yet for a historical read.
After 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.
