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The ringgit opened lower against the US dollar on March 23 at 4.4180/4250, as investors reacted to the fast-spreading Covid-19 pandemic and weakening oil prices. Brent crude fell 1.66% to US$28.52 a barrel.
Weaker oil and risk aversion push the ringgit lower, raising the local cost of dollar-priced feed ingredients and pressuring Malaysian import budgets.
staging.malaysiakini.comBernamaMar 22, 2020Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
