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The ringgit fell against the dollar on April 11 and extended its downtrend ahead of the US consumer price index release. Analysts expected the data to strengthen the case for another Federal Reserve rate hike in May.
Expectations of further Fed tightening support the dollar and raise the local cost of dollar-priced feed imports. The effect is routine currency pressure rather than a supply shock.
malaymail.comApr 11, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
