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A research house expects the ringgit to keep strengthening against the US dollar next week, with an upside bias. It cites firmer oil prices after OPEC extended its production cut by nine months and the expectation that the US Fed's rate hike was already priced in.
A stronger ringgit eases the cost of dollar-priced feed ingredients for Malaysian buyers, while firmer crude supports energy-linked costs.
malaysiakini.comAzlee Nor MahmudMay 27, 2017Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
