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The ringgit gained 140 basis points against the US dollar on January 13, 2021, closing at 4.0410/0460 from 4.0550/0600. Analysts linked the move to a crude oil rally, with Brent at about US$56.63, and to lower US 10-year Treasury yields after a retreat from a 10-month high.
The story also noted the two-week movement control order in Malaysia.
Ringgit strength tied to higher crude and softer dollar reflects broad commodity-led risk appetite. For feed buyers it signals firmer energy costs and a softer dollar, which can support dollar-priced grain and meal.
thesun.myThe Sun WebdeskJan 13, 2021Not enough comparable past events yet for a historical read.
After 323 past bullish macro events, BRENT moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
