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The ringgit is expected to trade sideways next week, tracking emerging market currencies amid US-China tensions and recession fears. An analyst warned the ringgit could touch 4.40 per dollar.
Malaysia's leading indicator for March fell by the largest amount since November 1991.
Recession fears and trade tensions point to weaker regional demand, a mild bearish signal for palm oil and currency-linked feed input costs.
malaymail.comMay 23, 2020Not enough comparable past events yet for a historical read.
After 51 past bearish macro events, Palm Oil moved a median -1.3% over 5 sessions (35% higher; middle half -4.1% to +1.1%), and -1.8% 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.
