# Ringgit opens higher against USD

> The ringgit opened higher against the US dollar as Brent crude rose 4.6% to US$23.56 per barrel. The Federal Reserve kept interest rates unchanged and signalled further stimulus may follow if needed. Analysts said Malaysia's COVID-19 curve was flattening and that global output cuts were tightening supply.

- Date: 2020-04-30 · published 2020-04-30T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/53929-ringgit-opens-higher-against-usd
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher crude prices support oil-linked currencies and point to firmer energy costs, while Fed stimulus weakens the dollar broadly. The effect on feed-ingredient prices is indirect, through energy and currency channels.

## Read by commodity

- DXY: bearish ▼
- BRENT: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-04-27 | [Ringgit opens higher against US dollar](https://feedsoft.ai/events/53928-ringgit-opens-higher-against-us-dollar.md) | +19.9% | +86.8% |
| BRENT | 2020-12-10 | [Ringgit higher against US dollar at opening \| Malaysia now](https://feedsoft.ai/events/49922-ringgit-higher-against-us-dollar-at-opening-malaysia-now.md) | +4.3% | +14.2% |
| BRENT | 2019-03-21 | [Ringgit opens eight-months high against US dollar \| FMT](https://feedsoft.ai/events/60368-ringgit-opens-eight-months-high-against-us-dollar-fmt.md) | -1.2% | +4.3% |
| BRENT | 2022-02-18 | [Ringgit opens higher against US dollar on steady commodity prices](https://feedsoft.ai/events/42965-ringgit-opens-higher-against-us-dollar-on-steady-commodity-prices.md) | +6.4% | +16.9% |
| BRENT | 2021-09-30 | [Ringgit opens lower against US dollar \| Malay Mail](https://feedsoft.ai/events/45319-ringgit-opens-lower-against-us-dollar-malay-mail.md) | +3.8% | +7.8% |
| DXY | 2023-04-28 | [Ringgit Opens Higher Against US dollar](https://feedsoft.ai/events/36679-ringgit-opens-higher-against-us-dollar.md) | -0.3% | +1.2% |
| DXY | 2021-12-17 | [Ringgit opens lower against US dollar](https://feedsoft.ai/events/43870-ringgit-opens-lower-against-us-dollar.md) | -0.2% | -0.8% |
| DXY | 2021-07-30 | [Ringgit opens marginally higher against US dollar \| Malay Mail](https://feedsoft.ai/events/46328-ringgit-opens-marginally-higher-against-us-dollar-malay-mail.md) | +0.3% | +1.2% |

## Sources

- nst.com.my: https://www.nst.com.my/business/2020/04/588647/ringgit-opens-higher-against-usd

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