# Ringgit marginally higher against us dollar on improving oil prices | Malay Mail

> The ringgit opened at 4.0470/0510 against the US dollar on Feb 4, supported by higher oil prices, with Brent nearing US$60 a barrel. OPEC+ kept its current output plans after the Joint Ministerial Monitoring Committee meeting, and China's services PMI slowed to 52.0 in January.

- Date: 2021-02-04 · published 2021-02-04T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/48915-ringgit-marginally-higher-against-us-dollar-on-improving-oil-prices-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

OPEC+ holding output steady supports crude prices, and higher oil supports Malaysian palm oil through biodiesel economics and currency effects. The ringgit's gain was limited by weaker Chinese data.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-02-28 | [Ringgit opens firmer against US dollar, supported by oil prices \| Malay Mail](https://feedsoft.ai/events/42959-ringgit-opens-firmer-against-us-dollar-supported-by-oil-prices-malay-mail.md) | +23.1% | +23.8% |
| BRENT | 2020-12-10 | [Ringgit higher against US dollar at opening \| Malaysia now](https://feedsoft.ai/events/49922-ringgit-higher-against-us-dollar-at-opening-malaysia-now.md) | +4.3% | +14.2% |
| BRENT | 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) | +6.4% | +16.9% |
| BRENT | 2021-09-30 | [Ringgit opens lower against US dollar \| Malay Mail](https://feedsoft.ai/events/45319-ringgit-opens-lower-against-us-dollar-malay-mail.md) | +3.8% | +7.8% |
| BRENT | 2020-04-27 | [Ringgit opens higher against US dollar](https://feedsoft.ai/events/53928-ringgit-opens-higher-against-us-dollar.md) | +19.9% | +86.8% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2021/02/04/ringgit-marginally-higher-against-us-dollar-on-improving-oil-prices/1946797

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