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The ringgit closed at its highest level in seven months at 4.1400/1450 against the dollar. A weaker dollar after the Jackson Hole symposium and strong risk appetite supported the currency, alongside a rise in China's August manufacturing PMI to 53.1.
A stronger ringgit lowers the local cost of dollar-priced feed imports such as soymeal and palm oil. China's firm factory activity also supports commodity demand, though the price effect here is small.
beta.malaymail.comSep 1, 2020Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) 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.
