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The ringgit kept weakening against the US dollar on July 29, closing near 4.2360/2410 from 4.2330/2355 the prior day. An analyst attributed the slide to rising Covid-19 cases and the Federal Reserve's cautious stance on withdrawing emergency support.
A weaker ringgit raises the ringgit cost of imported feed inputs for Malaysian buyers, while a firmer dollar tends to pressure dollar-denominated commodity prices.
malaymail.comJul 29, 2021Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
