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OCBC Bank forecasts the ringgit will settle at 4.1641 per dollar by year-end and expects it to edge higher in coming months alongside Asian currencies. OCBC said the US-China trade war is still in an escalation phase, widening beyond tariffs into specific industries.
Persistent trade escalation weighs on Asian currencies and Malaysian trade with China, which can dampen regional demand for palm oil and other commodities.
theborneopost.comeditoronJun 20, 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.
