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The ringgit weakened to a one-year low against the dollar on August 16 after the cabinet resigned, trading near 4.241, its weakest since July 2020. Against the Singapore dollar it was near four-year lows.
Analysts expect continued pressure in coming months from lower oil prices and the Covid-19 economic impact.
A weaker ringgit raises Malaysian import costs for dollar-priced feed ingredients, and lower oil prices weigh on the currency's outlook.
businesstimes.com.sgAug 15, 2021Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
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.
