# Malaysia: Wider external surplus is positive for ringgit | articles | ING THINK

> 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.

- Date: 2018-08-03 · published 2018-08-03T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/63776-malaysia-wider-external-surplus-is-positive-for-ringgit-articles-ing-think
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-12-31 | [Ringgit’s performance mixed in 2018 mainly due to external factors \| Malay Mail](https://feedsoft.ai/events/61798-ringgit-s-performance-mixed-in-2018-mainly-due-to-external-factors-malay-mail.md) | +5.3% | +8.0% |
| PALMOIL | 2023-01-19 | [Malaysia growth will be key for ringgit this year: Trade Minister - The Business Times](https://feedsoft.ai/events/38046-malaysia-growth-will-be-key-for-ringgit-this-year-trade-minister-the-business.md) | -0.3% | -0.1% |
| PALMOIL | 2022-11-30 | [Ringgit ends higher against US dollar on positive China sentiment \| Malay Mail](https://feedsoft.ai/events/38930-ringgit-ends-higher-against-us-dollar-on-positive-china-sentiment-malay-mail.md) | +3.7% | -0.4% |
| PALMOIL | 2020-10-28 | [EMERGING MARKETS-Malaysian shares slip on political woes as trade data supports ringgit](https://feedsoft.ai/events/50890-emerging-markets-malaysian-shares-slip-on-political-woes-as-trade-data-supports.md) | +3.6% | +12.6% |
| PALMOIL | 2020-07-19 | [Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg](https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg.md) | +2.0% | +8.9% |

## Sources

- think.ing.com: https://think.ing.com/articles/malaysia-wider-external-surplus-is-positive-for-ringgit/

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