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The Malaysian ringgit rose to its highest in more than a month ahead of the 2022 budget, which was expected to be expansionary. Most Asian stocks were weak, with Philippine shares down 1%, while the Thai baht led regional currency gains.
Analysts at Mizuho said commodity price strength would boost Malaysia's revenue base.
Expectations of a pro-growth budget and firm crude oil and palm oil prices are supporting the ringgit, which lowers the dollar cost of Malaysian palm oil. Currency moves like this have a small effect on palm oil export pricing.
sg.finance.yahoo.comAnushka TrivediOct 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.
