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Analysts expect the ringgit to trade between 4.12 and 4.16 against the dollar next week, pressured by rising Covid-19 cases and a lack of positive catalysts. Malaysia's consumer price inflation came in below forecast at 4.7%, against the 4.9% expected by markets.
The ringgit outlook is tied mainly to Covid developments and oil prices, which has limited impact on feed ingredient supply or demand.
malaysiagazette.comBernamaMay 23, 2021Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
