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The ringgit fell against the dollar for a fourth straight session on April 20, closing at 4.2800/2830, as the IMF cut its 2022 global growth forecast to 3.6% citing the Ukraine war. Lockdowns in China and weaker regional currencies such as the baht and yuan also weighed on sentiment.
Global growth downgrades and China lockdowns reduce demand expectations for commodities and palm oil, while a firm dollar raises local-currency costs for dollar-priced feed imports.
malaymail.comApr 20, 2022Not enough comparable past events yet for a historical read.
After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
