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The ringgit extended its gains against the US dollar, opening at 4.2015/2050 per dollar. The move followed a downward revision to US fourth-quarter 2021 GDP growth, which weighed on the dollar index (DXY), which fell 0.62% to 97.79.
A firmer ringgit lowers the local-currency cost of dollar-priced feed imports for Malaysia, which is modestly supportive for buyers and marginally bearish for USD/MYR.
themalaysianreserve.comZukriMar 31, 2022Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
