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The ringgit opened 120 basis points weaker at 4.1210/1260 per dollar on March 19 as Brent crude fell 6.9% to $63.28 a barrel. The US 10-year Treasury yield rose to 1.71%, its highest since January 2020.
Falling crude and rising US yields weigh on energy-linked currencies and feed-related commodity values, while a firmer dollar pressures dollar-priced commodities.
nst.com.myBernamaMar 19, 2021After 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.
Not 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.
