Loading…
Malaysia's Trade Minister Tengku Zafrul Aziz said the country's economic growth will be the main factor in the ringgit's performance in 2023. He cited central bank forecasts of 4-5% growth after a 14.2% rebound in the September quarter, and said ringgit strength reflects market conditions.
Growth-driven currency strength would lower the dollar cost of Malaysian palm oil over time, but this is a policy comment without a new market shock. Its price implication for feed is minimal.
businesstimes.com.sgJan 19, 2023Not enough comparable past events yet for a historical read.
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.
