# Ringgit’s performance mixed in 2018 mainly due to external factors | Malay Mail

> The ringgit had a mixed 2018, starting the year strong after climbing from a historic low, then weakening sharply in the second quarter. Analysts attribute the swings mainly to external drivers such as trade tensions, emerging market stress, Fed hike expectations, crude oil moves and US dollar strength.

- Date: 2018-12-31 · published 2018-12-31T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/61798-ringgit-s-performance-mixed-in-2018-mainly-due-to-external-factors-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A weaker ringgit lowers the cost of Malaysian palm oil in dollar terms for buyers, which can support palm-based feed ingredients, while currency swings feed into landed feed costs.

## Read by commodity

- USDMYR: neutral
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| PALMOIL | 2018-08-03 | [Malaysia: Wider external surplus is positive for ringgit \| articles \| ING THINK](https://feedsoft.ai/events/63776-malaysia-wider-external-surplus-is-positive-for-ringgit-articles-ing-think.md) | +2.0% | +0.9% |
| PALMOIL | 2017-12-30 | [2017 recovery year for ringgit, BNM measures place in check \| Malay Mail](https://feedsoft.ai/events/67746-2017-recovery-year-for-ringgit-bnm-measures-place-in-check-malay-mail.md) | +6.7% | +4.3% |
| PALMOIL | 2021-01-14 | [StanChart sees ringgit rising to 3.90 against US dollar by end-2021 \| Malay Mail](https://feedsoft.ai/events/49426-stanchart-sees-ringgit-rising-to-3-90-against-us-dollar-by-end-2021-malay-mail.md) | -4.2% | -7.6% |
| PALMOIL | 2020-10-31 | [Bank Negara’s OPR decision, Budget 2021, US elections to influence ringgit movement next week \| Malay Mail](https://feedsoft.ai/events/50887-bank-negara-s-opr-decision-budget-2021-us-elections-to-influence-ringgit.md) | +7.4% | +13.1% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2018/12/31/ringgits-performance-mixed-in-2018-mainly-due-to-external-factors/1707872

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