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ING forecasts USD/MYR rising toward 4.35 by year-end as global trade tensions persist, though Malaysia's widening trade and current account surpluses offer support for the ringgit. June exports rose 7.6% year on year, slower than consensus, with the commodities cluster including palm oil slowing sharply.
A slowing commodities export cluster including palm oil signals softer Malaysian export demand, while the expected ringgit weakness modestly supports palm oil pricing in ringgit terms.
think.ing.comAug 3, 2018After 86 past neutral macro events, PALMOIL moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% over 20.
Not enough comparable past events yet for a historical read.
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.
