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The ringgit opened slightly lower at 4.1950/1990 against the US dollar on November 23, from 4.1940/1980 at the prior close. Traders were positioning cautiously ahead of the Trump-Xi meeting, and Brent crude was trading at US$62.60 per barrel.
Cautious positioning ahead of the US-China meeting keeps trade-war risk in focus for soybean and palm oil demand. Brent near US$62 weighs on biodiesel economics and vegetable oil prices.
nst.com.myBernamaNov 23, 2018Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
