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The ringgit opened weaker against the US dollar on Friday despite a weak Philadelphia Fed manufacturing reading, as higher-than-expected US jobless claims also weighed on the greenback. The dollar index slipped to 95.991 after the ECB said it would end its pandemic bond purchases by March 2022.
Currency moves of this size have little direct effect on feed grain prices, though a softer dollar can modestly support dollar-denominated commodity prices for Malaysian buyers.
themalaysianreserve.comZukriDec 17, 2021Not 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.
