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The ringgit declined to its lowest level of 2018 against the dollar, reaching 4.0860 per dollar, as most Asian emerging-market currencies weakened on concerns over an intensifying US-China trade war and a stronger dollar. The move reflects broad regional currency weakness.
A weaker ringgit lowers the dollar cost of Malaysian palm oil, but the trade-war driven dollar strength also weighs on dollar-priced commodity demand, leaving the net price effect modest.
thestar.com.myThe Star OnlineAug 6, 2018After 86 past neutral macro events, Palm Oil 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.
