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HSBC Global Investment Research expects the ringgit to trade between 4.10 and 4.20 per US dollar in 2027, weaker than its current 4.05 to 4.10 range. HSBC's Asia FX head Joey Chew said the view assumes the Federal Reserve raises rates in December and that Bank Negara Malaysia will hike in early 2027.
She also ruled out rate cuts while oil prices stay high and El Niño inflation risks persist.
A weaker ringgit raises the local cost of dollar-priced feed imports such as soymeal, corn and fishmeal, and elevated oil and El Niño risks keep feed input costs under pressure. The forecast is a currency outlook, not a new supply event, so its direct effect on grain prices is modest.
thestar.com.myThe Star OnlineNov 2, 2026Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
