# EMERGING MARKETS-Ringgit at over 1-mth high ahead of budget; Philippine shares lose 1%

> 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.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/44832-emerging-markets-ringgit-at-over-1-mth-high-ahead-of-budget-philippine-shares
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- sg.finance.yahoo.com: https://sg.finance.yahoo.com/news/emerging-markets-ringgit-over-1-075816227.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.