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Bank Negara Malaysia policy-committee member Lee Kok Kwan said the ringgit could rally about 4 percent to 4.1 per dollar in the second half of 2017. He cited improved GDP and exports and lower offshore speculative short positions.
A stronger ringgit would raise the dollar cost of Malaysian palm oil and could lift palm prices in dollar terms. The forecast is an analyst view and carries limited market weight.
businesstimes.com.sgJun 7, 2017Not enough comparable past events yet for a historical read.
After 38 past bullish macro events, Palm Oil moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +3.0%), and -0.3% 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.
