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Anwar Ibrahim became Malaysia's prime minister, ending a prolonged political deadlock. The ringgit posted its best day in two weeks and equities rose 3%, as the country faces a slowing economy and political division.
Political resolution reduces currency and market risk for Malaysia, a major palm oil producer, supporting ringgit strength that can affect palm oil pricing in dollar terms.
reuters.comA. AnanthalakshmiNov 24, 2022Not enough comparable past events yet for a historical read.
After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.
