Malaysian ringgit foreseen to average MYR 4.26 against USD this year

STORY: Malaysian ringgit foreseen to average MYR 4.26 against USD this year DATELINE: June 14, 2023 LENGTH: 00:02:09 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of Malaysia's national flag and Kuala Lumpur street views 2. various of bank notes counting 3. various of customers shopping at a supermarket 4. various of people shopping STORYLINE: The Malaysian Industrial Development Finance (MIDF) Research has revised its foreign exchange outlook for Malaysian ringgit (MYR) to average at MYR 4.26 against U.S. dollar this year, from a previous forecast of MYR 4.20. The research house said on Monday in a note that although this points to a slower appreciation than previously forecasted, it will still be stronger than an average MYR 4.40 recorded last year. Taking into account U.S. Federal Reserve (Fed) pausing rate hikes later this year and no rate cuts despite the United States experiencing below-trend growth, it foresees fund flows to return to emerging markets. Despite the robust

Analysts expect Malaysia's CPO prices to ease in 2023

STORY: Analysts expect Malaysia's CPO prices to ease in 2023 DATELINE: Feb. 14, 2023 LENGTH: 00:01:35 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of palm trees plantation area 2. various of backhoe loader gathering palm fruits 3. various of palm fruits 4. various of trucks carrying bunch of palm fruits on the road STORYLINE: Crude palm oil (CPO) prices in Malaysia are projected to ease in 2023 on stocks normalization, analysts foresaw on Monday. MIDF Research said in a note that it expects Malaysian local delivery prices for CPO to be lower in 2023, ranging between 3,000 ringgit (687.76 U.S. dollars) and 4,000 ringgit, on the expectation of normalization closing stocks of 2 million tonnes to 2.1 million tonnes. It said the CPO price is expected to trade volatile in February to March at circa 3,500 ringgit per tonne to 4,000 ringgit per tonne, benefiting from price disparity between CPO against soybean oil price which to date amounted to 445 U.S. dollars per tonne and 3 years average of