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The ringgit surged against the US dollar at the close on November 9, reaching 4.1080/1130 from 4.1275/1325 the prior Friday. Analysts attributed the move to the US election result, which elected Joe Biden, and the expectation of larger fiscal stimulus.
A stronger ringgit on broad dollar weakness reduces the local-currency cost of dollar-priced commodity imports, though the move is driven by currency flows rather than agricultural supply.
malaymail.comNov 9, 2020Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
