# Ringgit extends winning streak

> The ringgit rose for a seventh straight session on January 30, 2023, trading near 4.2345/2395 per dollar. The US Dollar Index fell to 101.93, its lowest weekly close in eight months, while crude oil ended the week at US$86.66 per barrel.

- Date: 2023-01-29 · published 2023-01-29T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38041-ringgit-extends-winning-streak
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A firmer ringgit and weaker dollar reduce the local cost of Malaysian palm oil and support export pricing. Crude oil's weekly decline also trims biofuel-linked demand support, though the effect is modest.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-11-12 | [EUR/USD extends winning streak as Dollar slips ahead of key US House vote](https://feedsoft.ai/events/22156-eur-usd-extends-winning-streak-as-dollar-slips-ahead-of-key-us-house-vote.md) | -0.1% | -0.5% |
| DXY | 2023-11-28 | [Ringgit strengthens against US dollar amid weak US housing data \| Malay Mail](https://feedsoft.ai/events/33430-ringgit-strengthens-against-us-dollar-amid-weak-us-housing-data-malay-mail.md) | +0.2% | -1.1% |
| DXY | 2023-04-30 | [Stronger ringgit likely in near term](https://feedsoft.ai/events/36677-stronger-ringgit-likely-in-near-term.md) | -0.6% | +1.2% |
| DXY | 2023-04-14 | [Ringgit continues to strengthen vs US dollar](https://feedsoft.ai/events/36680-ringgit-continues-to-strengthen-vs-us-dollar.md) | +0.6% | +0.5% |
| DXY | 2025-09-17 | [Ringgit ends near one-year high vs US$ on Fed cut hopes \| The Star](https://feedsoft.ai/events/23162-ringgit-ends-near-one-year-high-vs-us-on-fed-cut-hopes-the-star.md) | +0.4% | +1.5% |
| WTI | 2022-06-17 | [Oil slumps 6%, snaps seven week winning streak](https://feedsoft.ai/events/41116-oil-slumps-6-snaps-seven-week-winning-streak.md) | -7.6% | -11.7% |
| WTI | 2017-07-05 | [US crude sinks, ending longest winning streak since 2012](https://feedsoft.ai/events/70149-us-crude-sinks-ending-longest-winning-streak-since-2012.md) | -2.8% | +6.1% |
| WTI | 2018-10-18 | [Ringgit snaps 2-day gaining streak to end lower vs US dollar \| FMT](https://feedsoft.ai/events/62789-ringgit-snaps-2-day-gaining-streak-to-end-lower-vs-us-dollar-fmt.md) | -4.3% | -19.3% |

## Sources

- thesun.my: https://thesun.my/news/ringgit-extends-winning-streak-ec10567056/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.