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Standard Chartered has placed short- and medium-term overweight FX positions on the ringgit, calling it one of the most undervalued emerging market currencies. The bank says foreign positioning is extremely light and onshore sentiment has improved.
Bullish bank positioning could strengthen the ringgit and make Malaysian dollar-priced commodity purchases such as palm oil cheaper for local buyers. The impact on feed markets is limited.
theborneopost.comSep 27, 2017Not enough comparable past events yet for a historical read.
After 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.
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.
