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The ringgit opened higher against the US dollar on 29 October as buyers returned ahead of the Budget 2022 tabling that day. The currency was trading at 4.1445/1480 per dollar, and analysts noted that higher commodity prices and positive economic data had supported the tone.
A firmer ringgit against the dollar makes Malaysian palm oil slightly cheaper for dollar-based buyers, a modest bearish factor for palm oil prices in dollar terms. The move is small and mostly reflects pre-budget positioning.
malaymail.comOct 29, 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.
