# Ringgit to continue upward momentum

> Malaysia's ringgit is set to keep rising, according to an outlook piece ahead of the Federal Reserve's first policy decision of 2023. Officials at the Fed were due to decide on interest rates that week.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38044-ringgit-to-continue-upward-momentum
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expectations for a stronger ringgit lower the local cost of palm oil and support regional pricing. The article is a currency outlook with little direct effect on feed supply.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-12-27 | [Bullish Streak In Ringgit To Continue This Week](https://feedsoft.ai/events/43869-bullish-streak-in-ringgit-to-continue-this-week.md) | +1.4% | +12.7% |
| PALMOIL | 2018-09-13 | [Expect US dollar to continue rising against ringgit, say economists \| FMT](https://feedsoft.ai/events/63307-expect-us-dollar-to-continue-rising-against-ringgit-say-economists-fmt.md) | -1.7% | -2.6% |
| PALMOIL | 2017-06-30 | [Continued non-resident inflow leads to Ringgit's appreciation: BNM - The Malaysian Reserve](https://feedsoft.ai/events/70758-continued-non-resident-inflow-leads-to-ringgit-s-appreciation-bnm-the-malaysian.md) | +2.7% | +4.0% |
| PALMOIL | 2024-09-29 | [Ringgit set to go below 4.1 against US dollar and continue rising amid cautious outlook on US data](https://feedsoft.ai/events/28586-ringgit-set-to-go-below-4-1-against-us-dollar-and-continue-rising-amid-cautious.md) | +9.1% | +9.7% |
| PALMOIL | 2022-11-25 | [MYR/USD: Malaysia Ringgit Rises to 3-Month High After New PM Appointment - Bloomberg](https://feedsoft.ai/events/38929-myr-usd-malaysia-ringgit-rises-to-3-month-high-after-new-pm-appointment.md) | +3.4% | -0.7% |

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2023/01/31/ringgit-to-continue-upward-momentum

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