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The ringgit weakened against the US dollar on Tuesday morning, falling to 4.0785 from Monday's close of 4.0695, while rising against the Singapore dollar. Brent crude dropped 8.12% to $104.21 on hopes of US-Iran negotiations, and US short-term Treasury yields fell, lowering expectations of a Fed rate hike.
Diplomatic progress could reopen the Strait of Hormuz and ease oil supply concerns, reducing crude prices. Analysts expect the ringgit to trade sideways in the short term while markets await the US midterm election results.
klsescreener.comNov 3, 2026After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Not enough comparable past events yet for a historical read.
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.
