Palm Oil's Seven-Day Slick: The Market's Greasiest Losing Streak
Key Points
- Malaysian palm oil futures have experienced seven consecutiv...
Looking to invest in something slippery? Malaysian palm oil futures just wrapped up their seventh straight session of losses, proving that not everything that glistens with oil brings golden returns.
The Ringgit's Wild Ride
Malaysia's ringgit just pulled a 0.46% disappearing act against the mighty US dollar. While this currency magic trick makes palm oil more attractive to foreign buyers, it's leaving local traders scratching their heads about whether to laugh or cry. At 3,764 ringgit ($888) per metric ton for July delivery, palm oil is starting to look like it's on a clearance sale.
Oil...
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