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Ringgit is expected to trade in a narrow range of RM4.15 to RM4.16 against the US dollar the following week, as traders wait for the Budget 2022 announcement on 29 October. The ringgit had mostly gained against the dollar in the prior week, supported by higher commodity prices.
Malaysia's consumer price index rose 2.2% year on year in September.
Currency expectations are stable and driven by the budget event rather than a new supply or demand shock. Higher commodity prices supporting the ringgit modestly favour palm oil price stability in dollar terms.
bharian.com.myOct 24, 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.
