Loading…
Malaysia's Ministry of Finance said the ringgit remains competitive and inflation is contained despite geopolitical headwinds. It cited IMF cuts to 2022 and 2023 global growth to 3.6% and warned of a historic bond sell-off driven by expected aggressive US Fed tightening.
A weaker ringgit against the dollar makes Malaysian palm oil and other imports priced in dollars cheaper for ringgit buyers, supporting palm oil demand from Malaysian processors while global growth downgrades weigh on commodity demand.
mof.gov.mySaidiApr 23, 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.
