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The ringgit opened slightly weaker at 4.0655/0690 per dollar, reversing part of its recent gains. The dollar firmed overnight on concerns that a US fiscal stimulus package might not be approved, while US oil markets were steady after a large inventory build.
A firmer dollar raises the local-currency cost of dollar-priced feed imports for Malaysian buyers. The move is small and driven by US fiscal uncertainty rather than commodity supply.
nst.com.myBernamaDec 10, 2020Not 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.
