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The ringgit closed higher against the US dollar as risk sentiment improved on oil. Hopes for an expanded OPEC+ intervention weakened demand for the dollar against oil-sensitive currencies.
The ringgit also strengthened against the yen, Singapore dollar, pound and euro.
Expectations of OPEC+ support lift crude and oil-linked currencies, which can ease Malaysian import costs. The move is currency-driven, with limited direct effect on feed-ingredient supply.
focusmalaysia.myFocusMApr 22, 2020Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, WTI moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
