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The Indonesian rupiah and Malaysian ringgit rose on March 1 as higher oil, coal and natural gas prices followed Russia's invasion of Ukraine. Palm oil prices also rose.
The rupiah gained 0.2% and the ringgit 0.1%.
Stronger Asian currencies linked to commodity exporters tend to track firm energy and palm oil prices, which signal tighter vegetable oil supply and higher input costs for feed.
reuters.comHarshita SwaminathanMar 1, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 38 past bullish macro events, Palm Oil moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +3.0%), and -0.3% 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.
