CPO Price Malaysia Update

CPO Price Malaysia Update

The price of CPO in Malaysia commodity exchange on trading Tuesday afternoon(4/02) observed strengthened. Rising prices of CPO this afternoon triggered a weakening Ringgit against the u.s. dollar.

During this tracked the u.s. dollar strengthened against the Ringgit. Observed pairs us dollar-Malaysia Ringgit rises 0.32% at 4.1530.

The weakening of the ringgit has made the price of commodities traded in thecurrency became relatively cheaper for foreign buyers and so the demand is increasing.

The price of CPO contract most active on the exchange of commodities Malaysiatoday appear to increase. Contract prices May 2016 which is the most active contracts strengthened by 20 ringgit and traded on the position of 2619 ringgit per tonne.

We estimate that the price movement of CPO futures on the next trade potentiallystrengthened by the weakening of the Ringgit since the beginning to return to the u.s. dollar. Price movements can also be affected by global supply and demand conditionsand prices of crude oil.

The price of CPO futures contract April 2016 Malaysia commodity exchange can potentially test the Resistance level at position 2670 ringgit and 2720 ringgit. While the level of Support that would be tested if the price drop is on position 2570 2520 ringgit and ringgit.

CPO Price Malaysia Update.