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MIDF Research forecasts the ringgit will average RM4.15 per dollar in 2019, given year-to-date levels near RM4.13. It expects the declining Brent price to weigh on the currency, offset by Fed rate cuts that could bring capital inflows.
It also expects domestic demand to be supported by the 25 basis point OPR cut.
The forecast of a firmer ringgit and lower oil prices bears on Malaysian import costs for feed inputs and palm oil demand, with limited near-term price impact.
malaymail.comSep 19, 2019After 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.
Not 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.
