# Ringgit eases against USD

> The ringgit eased against the US dollar at the open on profit-taking and weaker oil prices, with Brent falling 1.64% to US$34.17 a barrel. An API report showed a large crude inventory build of 8.731 million barrels for the week ending May 22. Analysts expect Bank Negara to cut rates by another 50 basis points.

- Date: 2020-05-28 · published 2020-05-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/53392-ringgit-eases-against-usd
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker crude and a softer ringgit are macro signals for Malaysian palm oil costs and export competitiveness, though the direct feed price impact is limited.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-27 | [Ringgit extends gains against US dollar in early session \| FMT](https://feedsoft.ai/events/54377-ringgit-extends-gains-against-us-dollar-in-early-session-fmt.md) | +37.1% | -32.8% |
| WTI | 2026-06-01 | [Ringgit ends higher against US dollar on renewed risk appetite](https://feedsoft.ai/events/19535-ringgit-ends-higher-against-us-dollar-on-renewed-risk-appetite.md) | +1.7% | -21.8% |
| WTI | 2022-12-06 | [Ringgit ends lower against US dollar as oil prices decline \| Malay Mail](https://feedsoft.ai/events/38501-ringgit-ends-lower-against-us-dollar-as-oil-prices-decline-malay-mail.md) | -5.0% | -5.3% |
| WTI | 2018-02-22 | [Feb 22: Ringgit slips against US dollar for fourth consecutive day](https://feedsoft.ai/events/66757-feb-22-ringgit-slips-against-us-dollar-for-fourth-consecutive-day.md) | -0.3% | +5.5% |
| WTI | 2023-01-29 | [Ringgit extends winning streak](https://feedsoft.ai/events/38041-ringgit-extends-winning-streak.md) | -7.9% | -5.2% |
| BRENT | 2021-07-26 | [Ringgit ends lower against US dollar \| Malay Mail](https://feedsoft.ai/events/46327-ringgit-ends-lower-against-us-dollar-malay-mail.md) | +3.4% | -12.3% |
| BRENT | 2026-09-18 | [Ringgit opens higher against US dollar as oil prices ease \| The Star](https://feedsoft.ai/events/17729-ringgit-opens-higher-against-us-dollar-as-oil-prices-ease-the-star.md) | -0.3% | +5.0% |
| BRENT | 2018-11-23 | [Ringgit opens slightly lower againts USD: 23 Nov](https://feedsoft.ai/events/62310-ringgit-opens-slightly-lower-againts-usd-23-nov.md) | -5.4% | -14.0% |

## Sources

- nst.com.my: https://www.nst.com.my/business/2020/05/595872/ringgit-eases-against-usd

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