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Asian currencies and stocks fell at the start of the week as investors priced in further US Fed tightening after strong January PCE inflation data. The Malaysian ringgit fell as much as 0.9% to 4.47 per dollar, and the dollar index rose 0.6% to 105.23.
Expectations of higher and longer US rates strengthen the dollar and weaken emerging-market currencies such as the ringgit. A weaker ringgit can make Malaysian palm oil cheaper in dollar terms, which can weigh on palm oil prices.
brecorder.comReutersFeb 27, 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.
