Loading…
The ringgit strengthened against the US dollar in early trading on March 27, moving to about 4.30 from 4.33 at Thursday's close. Analysts attributed the gain to a better global risk tone and US dollar funding pressure, while falling oil prices reduced petrodollar inflows.
Lower oil revenue weakens a key support for the ringgit, but broader dollar funding stress is currently dominating, so the currency moves matter for the cost of imported feed ingredients priced in dollars for Malaysian buyers.
freemalaysiatoday.comBernamaMar 27, 2020Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
