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Malaysia's Budget 2022 is expected to be expansionary and to support the ringgit through a positive fiscal impulse. The ringgit strengthened against the US dollar to RM4.139 last week from RM4.148 the week before.
Analysts cited firm crude oil and crude palm oil prices, with CPO having hit a record RM5,220 a tonne in September.
A stronger ringgit lowers the local-currency cost of Malaysian palm oil and related imports, while firm palm oil prices support Malaysian export receipts. Palm oil supply tightness continues to underpin edible oil and meal costs for feed buyers.
themalaysianreserve.comDayang NorazharOct 31, 2021Not enough comparable past events yet for a historical read.
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.
