only read petronas will NOT cut staff.


This post has been edited by AVFAN: Mar 16 2015, 11:14 PM

date
crude price
rm/usd

Jan 29 2015
usd44.50
3.6375

Feb 4 2015
usd52
3.564

Feb 11 2015
usd50
3.60

Feb 18 2015
usd54
3.595

Mar 4 2015
usd51
3.6475.

Mar 10 2015
usd49.60
3.705

Mar 18 2015
usd44.12
3.709

Nice little trending there. I have notice this thing. The US crude is always inverse proportional to our exchange rate.

However, if look closely always after the increase in US crude the next drop will still result in a higher rm/usd exhange rate against the previous one.

So just want to conclude MYR is weak regardless of the crude. It may have some effect but I would say not significant.

yes, i had the same question - is oil price still the driver for rm since msia is still deemed a net oil (or energy) exporter?

more likely, oil is still a factor but it's not all about oil anymore. fiscal deficit, debt, confidence appear to carry more weight.

yellen's statement last night drove the usd down by 3% against the euro, and oil prices up by 5%. this morning, rm gained 1% over usd. compared to sgd or thb, no significant change as these currencies also recovered about 1%.

now that the usd is back to more normal levels, we'll see how the rm fare from this point.

Mar 19 2015
usd46.13
3.6725

I think I said this before
Now I say it again, crude is crude, USD is USD, rm is rm.
All of them does not have any relation to each other.
Price/rate changing is because someone are speculating it.

date
crude price
rm/usd

Jan 29 2015
usd44.50
3.6375
Feb 4 2015
usd52
3.564
Feb 11 2015
usd50
3.60
Feb 18 2015
usd54
3.595
Mar 4 2015
usd51
3.6475.
Mar 10 2015
usd49.60
3.705
Mar 18 2015
usd44.12
3.709
Mar 19 2015 10am
usd46.13
3.6725
Mar 19 2015 7pm
usd45.34
3.708

OPEC has no choice but to keep its market share and shun oil output cuts, Kuwait's oil minister said on Thursday, reiterating the view from the emirate that the group will hold its course when it meets next in June.

The accord pushed oil prices below $50 per barrel, extending a sharp decline that began in June amid a global glut of crude and weakening demand.

Maybe? Depend on march closing candle. Do expect high volatility ahead.


Attached thumbnail(s)

Yup..its at 3.71 today.

Do you mean the current low RM value is cause by mega rich Malaysian/companies moving out large portion of money to oversea account?

Yes, increasing debt is the only reason.

Oil drops as Saudi says will not cut output alone, weak China import hurts
http://www.theedgemarkets.com/my/article/o...ts?type=Markets

Is it the April petrol price set based on Mar 31 oil price ? If yes, let's hope on Mar 31, oil price is lower vs Feb 28th.

April retail price based on whole March not on 31

based on some osa'ed float mechanism formula.

still, from jan, feb n mar prices, and corresponding crude prices, can expect 10 sen reduction in petrol price.

unless some power decides otherwise.

weaker RM would be the popular excuses to maintain or increase the retail price

Oil to reach $100 a barrel by end of 2016: US oil magnate T. Boone Pickens
http://www.thestar.com.my/Business/Busines...2016/?style=biz

Oil price will reach $150 by end 2019, TCSS by me
Just because is billionaire does not means can bullshitting around

Definitely no signs of OPEC cutting down the output though..WTI crude is narrowing the gap to only USD6.++ lowest I have ever seen so far since the crisis. The reduction of rig count did show some improvements in the states.

This post has been edited by stanzai: Mar 26 2015, 02:54 AM

Saudi won't reduce output
This is the fact.