# Bullish Streak In Ringgit To Continue This Week

> Kenanga Research expects the ringgit to extend its gains against the US dollar this week, citing improving global risk sentiment, firmer crude prices, and favourable trade data. The ringgit had strengthened to 4.196 per dollar on Friday after Omicron data from the UK suggested milder infections than Delta.

- Date: 2021-12-27 · published 2021-12-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/43869-bullish-streak-in-ringgit-to-continue-this-week
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A firmer ringgit makes Malaysian-priced palm oil and imported feed ingredients slightly cheaper for local buyers, while higher crude supports palm oil as a biodiesel feedstock.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-02-01 | [Ringgit to continue upward momentum](https://feedsoft.ai/events/38044-ringgit-to-continue-upward-momentum.md) | +0.5% | +2.2% |
| PALMOIL | 2023-01-29 | [Ringgit extends winning streak](https://feedsoft.ai/events/38041-ringgit-extends-winning-streak.md) | -0.9% | +1.5% |
| PALMOIL | 2017-06-30 | [Continued non-resident inflow leads to Ringgit's appreciation: BNM - The Malaysian Reserve](https://feedsoft.ai/events/70758-continued-non-resident-inflow-leads-to-ringgit-s-appreciation-bnm-the-malaysian.md) | +2.7% | +4.0% |
| PALMOIL | 2018-09-13 | [Expect US dollar to continue rising against ringgit, say economists \| FMT](https://feedsoft.ai/events/63307-expect-us-dollar-to-continue-rising-against-ringgit-say-economists-fmt.md) | -1.7% | -2.6% |
| PALMOIL | 2018-08-06 | [Ringgit falls to 2018 low as Asia currencies weaken \| The Star](https://feedsoft.ai/events/63778-ringgit-falls-to-2018-low-as-asia-currencies-weaken-the-star.md) | +1.8% | +0.9% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2021/12/27/bullish-streak-in-ringgit-to-continue-this-week/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.