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The ringgit opened lower against the dollar on November 29 at 4.5000/5100, weighed by a stronger greenback and falling crude oil prices. Brent fell 0.46% to US$82.81 amid OPEC supply uncertainty.
Weaker crude and a firmer dollar pressure Malaysian palm oil's biodiesel-linked demand and raise the dollar cost of Malaysian commodity exports.
malaymail.comNov 29, 2022Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
After 51 past bearish macro events, Palm Oil moved a median -1.3% over 5 sessions (35% higher; middle half -4.1% to +1.1%), and -1.8% 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.
