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Fitch expects the ringgit to keep weakening in the first half of 2022, averaging around RM4.20 per dollar for 2022 after falling 1.1% since September to RM4.22. The ringgit has traded above the RM4.20 support level since November 24, 2021, following the hawkish Fed minutes.
A weaker ringgit lowers the cost of Malaysian palm oil in dollar terms, which can add modest downward pressure on palm oil prices for importers.
businesstoday.com.myDec 6, 2021Not enough comparable past events yet for a historical read.
After 51 past bearish macro events, Palm Oil moved a median -1.3% over 5 sessions (35% higher; middle half -4.1% to +1.1%), and -1.8% 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.
