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The Malaysian ringgit fell more than 5 percent in offshore trading on Friday after Donald Trump's election win. The Indonesian rupiah also came under heavy selling pressure, prompting authorities to sell dollars to stabilise it.
Sharp Asian currency weakness raises the cost of imported feed ingredients for Southeast Asian buyers and pressures local feed and oilseed margins. Weaker ringgit can also support palm oil prices in dollar terms.
reuters.comSaikat ChatterjeeNov 11, 2016Not enough comparable past events yet for a historical read.
Not 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.
