# Some of world's biggest banks see stronger ringgit in 2019

> Several major banks revised their 2019 ringgit forecasts stronger against the US dollar after the currency beat estimates in Q4 2018. Mizuho expects the ringgit to strengthen below RM4 by Q3 2019, and the Bloomberg consensus target moved to RM4.12 from RM4.20.

- Date: 2019-01-14 · published 2019-01-14T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/61348-some-of-world-s-biggest-banks-see-stronger-ringgit-in-2019
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A stronger ringgit lowers the ringgit cost of dollar-priced palm oil exports and tends to weigh on Malaysian palm oil prices in local terms, while forecasts of further gains point to a firmer currency backdrop.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-06-29 | [Report: Ringgit strongest currency in Asia \| Malaysiakini](https://feedsoft.ai/events/70757-report-ringgit-strongest-currency-in-asia-malaysiakini.md) | +3.1% | +4.2% |
| PALMOIL | 2024-11-01 | [Malaysian Ringgit Set for Biggest Monthly Decline Since 2015](https://feedsoft.ai/events/28131-malaysian-ringgit-set-for-biggest-monthly-decline-since-2015.md) | +9.9% | +9.2% |
| PALMOIL | 2023-12-27 | [Ringgit swings like yo-yo in 2023 but strong economic fundamentals cap losses](https://feedsoft.ai/events/32987-ringgit-swings-like-yo-yo-in-2023-but-strong-economic-fundamentals-cap-losses.md) | -2.9% | +1.8% |
| PALMOIL | 2021-12-27 | [Bullish Streak In Ringgit To Continue This Week](https://feedsoft.ai/events/43869-bullish-streak-in-ringgit-to-continue-this-week.md) | +1.4% | +12.7% |
| PALMOIL | 2019-06-29 | [Ringgit’s performance hinges on outcome of US-China talks \| Malay Mail](https://feedsoft.ai/events/58857-ringgit-s-performance-hinges-on-outcome-of-us-china-talks-malay-mail.md) | -2.4% | -0.2% |

## Sources

- nst.com.my: https://www.nst.com.my/business/2019/01/450437/some-worlds-biggest-banks-see-stronger-ringgit-2019

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.