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Fitch Solutions raised its 2019 average forecast for the ringgit to RM4.15 per dollar from RM4.05 and kept its 2020 forecast at RM4.25. The firm cited the US-China trade war escalation in May and warned that risks remain tilted to the downside for emerging-market currencies.
A weaker ringgit on prolonged US-China trade disputes signals sustained pressure on Malaysian import demand and palm oil margins, though feed-grain price impact is limited.
malaysiakini.comJun 27, 2019Not enough comparable past events yet for a historical read.
After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
