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A Bloomberg report says the ringgit has been the strongest Asian currency this quarter, outpacing the renminbi by a wide margin. The article links the gain to global monetary stimulus, foreign stock inflows, and speculation of an early Malaysian election.
A firmer ringgit lowers the ringgit cost of Malaysian palm oil exports and raises the local-currency price of imported feed inputs. The effect on feed prices is modest and indirect.
malaysiakini.comJun 29, 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.
