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Malaysia's ringgit strengthened by more than 1% against the dollar despite few domestic catalysts, helped by a dollar index drop below 102 on expectations of a less hawkish Fed. The article expects the shrinking yield gap with US Treasuries to pressure the currency going forward.
A stronger ringgit and weaker dollar generally lower the local-currency cost of palm oil and other dollar-priced commodities. The outlook is mixed, so the price effect is limited.
businesstoday.com.myJan 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.
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.
