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The ringgit is heading for its biggest monthly loss since 2016, down 3.6% against the dollar in April, as falling oil prices and a dovish central bank weigh on it. RBC expects it could weaken toward 4.40 by end of the second quarter, with China's slowdown a key risk.
Lower oil prices and a weaker ringgit tied to China slowdown fears point to softer Malaysian export demand and reduced energy-linked support for vegetable oil prices.
freemalaysiatoday.comBloombergApr 27, 2022Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, BRENT moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
