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Bloomberg reports that the ringgit may be past its worst period after a 4.8% fall in February, its weakest month since 2016. China's reopening is expected to boost tourism and exports.
DBS, Barclays and RBC expect the currency to hold near 4.45 by end-June.
Stronger Asian export demand from China could support the ringgit and Malaysian palm oil shipments, though the effect on feed prices would be indirect.
bloomberg.comKarl Lester YapMar 6, 2023Not enough comparable past events yet for a historical read.
After 86 past neutral macro events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% 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.
