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Bank Negara Malaysia surprised markets by pausing its policy tightening, while the ringgit gained more than 1% toward 4.30 per dollar as the dollar index fell below 112. Analysts expect the ringgit to face pressure next week from narrowing yield premiums and possible capital outflows.
A firmer ringgit lowers the dollar cost of Malaysian palm oil and can support palm pricing, but the narrowing rate premium may weaken the currency. The effect on feed prices is small.
businesstoday.com.myJan 21, 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.
