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A Bernama dealer forecast that the ringgit would stay weak against the dollar the following week, citing lower crude oil prices and Federal Reserve support for higher rates. The ringgit had traded between 4.2760 and 4.2860 in the prior week.
Weaker crude prices can weigh on palm oil and biofuel demand, while a softer ringgit can offset some of that by lowering the local cost of Malaysian palm oil. The effect on feed prices is minor.
malaysiagazette.comBernamaJun 24, 2017Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
