# Supercharged commodities may rescue ringgit hit by Covid surge » The Capital Post

> ANZ said buoyant crude and palm oil prices could support the ringgit despite Malaysia's worsening Covid outbreak, which has pushed the currency down about 1.3% against the dollar in May. Brent was near $69 and crude palm oil was around 4,024 ringgit per ton after rallying as high as RM4,525 earlier in May.

- Date: 2021-05-27 · published 2021-05-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/47364-supercharged-commodities-may-rescue-ringgit-hit-by-covid-surge-the-capital-post
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Firm palm oil prices support palm oil as a vegetable oil and feed ingredient, while a weaker ringgit could make Malaysian palm exports more competitive.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-02-28 | [Ringgit could be more well-positioned in the medium term](https://feedsoft.ai/events/42960-ringgit-could-be-more-well-positioned-in-the-medium-term.md) | +9.2% | +9.9% |
| PALMOIL | 2022-02-18 | [Ringgit opens higher against US dollar on steady commodity prices](https://feedsoft.ai/events/42965-ringgit-opens-higher-against-us-dollar-on-steady-commodity-prices.md) | +2.8% | +10.5% |
| PALMOIL | 2020-07-01 | [Ringgit could hit 4.00 by year-end](https://feedsoft.ai/events/52378-ringgit-could-hit-4-00-by-year-end.md) | +0.6% | +7.0% |
| PALMOIL | 2016-11-15 | [Emerging markets' currency slump to help soft commodities, with palm oil the top pick: Analyst](https://feedsoft.ai/events/73941-emerging-markets-currency-slump-to-help-soft-commodities-with-palm-oil-the-top.md) | -0.1% | +5.8% |
| PALMOIL | 2017-06-07 | [Malaysian ringgit to rally to eight-month high, top banker says - The Business Times](https://feedsoft.ai/events/70761-malaysian-ringgit-to-rally-to-eight-month-high-top-banker-says-the-business.md) | -2.0% | +0.6% |
| BRENT | 2025-09-01 | [The Commodities Feed: Jerome Powell provides a boost to most markets](https://feedsoft.ai/events/23246-the-commodities-feed-jerome-powell-provides-a-boost-to-most-markets.md) | -4.1% | +3.9% |
| BRENT | 2021-08-24 | [The Commodities Feed: USD provides a boost to the complex \| snaps \| ING THINK](https://feedsoft.ai/events/12116-the-commodities-feed-usd-provides-a-boost-to-the-complex-snaps-ing-think.md) | +5.7% | +7.0% |
| BRENT | 2025-08-25 | [The Commodities Feed: Jerome Powell Provides a Boost to Most Markets \| Investing.com](https://feedsoft.ai/events/23251-the-commodities-feed-jerome-powell-provides-a-boost-to-most-markets-investing.md) | -0.1% | -1.7% |

## Sources

- capitalpost.com.my: https://www.capitalpost.com.my/supercharged-commodities-may-rescue-ringgit-hit-by-covid-surge/

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