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The ringgit extended gains to a three-month high against the dollar on November 25, rising 0.6% after Anwar Ibrahim's appointment as prime minister. Markets focused next on cabinet appointments, the finance minister choice and the budget retabling.
Political stability supports regional currency strength, which lowers the local-currency cost of Malaysian palm oil and eases import costs, though further political risk could slow gains.
financialpost.comReutersNov 25, 2022Not 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.
