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The ringgit closed higher against the US dollar for a fourth straight session, trading at 4.1045/1085 versus 4.1260/1290 the prior Friday. Analysts attributed the move to expectations of a US-China phase one trade deal signing and a sell-off in the greenback.
Brent crude rose almost 1% to US$66.93 per barrel.
A firmer ringgit lowers the ringgit cost of Malaysian palm oil exports, which can support CPO and dampen the ringgit-denominated price of imported feed ingredients. Trade-deal optimism also reduces demand-side risk for commodities.
beta.malaymail.comDec 30, 2019Not enough comparable past events yet for a historical read.
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.
