# Ringgit rebounds as risk-on mood, oil prices improve

> The ringgit opened higher on Tuesday as risk-on sentiment and steady oil prices supported demand, trading at 4.1660/1720 against the dollar. Malaysia's August total trade fell 4.6 percent year on year, with exports down 2.9 percent.

- Date: 2020-09-29 · published 2020-09-29T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/51354-ringgit-rebounds-as-risk-on-mood-oil-prices-improve
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A firmer ringgit makes Malaysian dollar-priced imports such as palm oil cheaper for local buyers, which can ease feed input costs slightly. The move is small and driven mainly by broad currency and oil sentiment rather than agricultural fundamentals.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-06-28 | [Ringgit appreciates against US dollar on improved market sentiment \| Malay Mail](https://feedsoft.ai/events/41230-ringgit-appreciates-against-us-dollar-on-improved-market-sentiment-malay-mail.md) | -24.1% | -29.6% |
| PALMOIL | 2019-04-25 | [FXTM: Ringgit undervalued as traders oversell on headline risks](https://feedsoft.ai/events/59836-fxtm-ringgit-undervalued-as-traders-oversell-on-headline-risks.md) | -4.1% | -7.5% |
| PALMOIL | 2018-10-12 | [Ringgit softness persists on risk aversion action on global uncertainties](https://feedsoft.ai/events/62790-ringgit-softness-persists-on-risk-aversion-action-on-global-uncertainties.md) | +1.8% | -4.2% |
| PALMOIL | 2024-07-31 | [MYR/USD: Malaysia Ringgit Rebound Set to Accelerate on Fed Rate Cuts, Exports - Bloomberg](https://feedsoft.ai/events/29549-myr-usd-malaysia-ringgit-rebound-set-to-accelerate-on-fed-rate-cuts-exports.md) | -1.9% | +1.5% |
| PALMOIL | 2022-11-30 | [Ringgit ends higher against US dollar on positive China sentiment \| Malay Mail](https://feedsoft.ai/events/38930-ringgit-ends-higher-against-us-dollar-on-positive-china-sentiment-malay-mail.md) | +3.7% | -0.4% |

## Sources

- nst.com.my: https://www.nst.com.my/business/2020/09/628129/ringgit-rebounds-risk-mood-oil-prices-improve

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