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The ringgit opened lower on November 21 at 4.1950/2000 against the US dollar, retreating from Monday's gains. Analysts said lower oil prices, a stronger dollar and the escalating US-China trade dispute were weighing on the currency, which was close to the 4.20 level.
Lower crude oil prices and a weaker ringgit pull on Malaysian palm oil values and biodiesel economics. A weaker ringgit can lift the ringgit price of palm oil exports, which partly offsets the downside.
thestar.com.myThe Star OnlineNov 20, 2018Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
