# Ringgit to maintain strength with upside bias next week | Malaysiakini

> 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.

- Date: 2017-05-27 · published 2017-05-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/71273-ringgit-to-maintain-strength-with-upside-bias-next-week-malaysiakini
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger ringgit eases the cost of dollar-priced feed ingredients for Malaysian buyers, while firmer crude supports energy-linked costs.

## Read by commodity

- WTI: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-09-27 | [Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength.md) | -2.0% | -7.4% |
| WTI | 2017-12-04 | [Ringgit surges to 4.06 against dollar \| Malay Mail](https://feedsoft.ai/events/67748-ringgit-surges-to-4-06-against-dollar-malay-mail.md) | -1.9% | +3.5% |
| WTI | 2020-12-10 | [Ringgit higher against US dollar at opening \| Malaysia now](https://feedsoft.ai/events/49922-ringgit-higher-against-us-dollar-at-opening-malaysia-now.md) | +5.2% | +14.7% |
| WTI | 2016-11-17 | [C$ strengthens to a 1-week high as oil climbs](https://feedsoft.ai/events/74055-c-strengthens-to-a-1-week-high-as-oil-climbs.md) | +3.4% | +11.7% |
| WTI | 2020-04-22 | [Ringgit closes higher as sentiment on oil improves - Focus Malaysia](https://feedsoft.ai/events/53932-ringgit-closes-higher-as-sentiment-on-oil-improves-focus-malaysia.md) | +33.7% | +249.4% |

## Sources

- malaysiakini.com: https://www.malaysiakini.com/news/383676

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.