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Standard Chartered forecast the ringgit would strengthen to 3.90 per US dollar by end-2021, with an overweight recommendation. The bank cited an improving global trade recovery, firmer commodity prices including palm oil and LNG, and a stronger yuan.
It said the ringgit was still about 9% undervalued.
A forecast ringgit appreciation would lower the local-currency cost of Malaysian-origin commodities such as palm oil and could ease import costs. The forecast is a view rather than a realized move.
malaymail.comJan 14, 2021Not enough comparable past events yet for a historical read.
After 86 past neutral macro events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% 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.
