Ringgit Ends Higher Ahead Of Fomc Decision




KUALA LUMPUR: The ringgit ended higher against the US dollar today ahead of the Federal Open Market Committee (FOMC) interest rate decision which is due later tonight.
The US dollar Index (DXY), which measures the performance of the greenback against six other major currencies, also traded lower on traders’ anticipation that the FOMC will maintain its current interest rates, analysts said.SPI Asset Management managing director Stephen Innes said as traders have been buying US dollars for the past two months, there was likely a minor position adjustment today, resulting in the ringgit closing firmer.
“Selling the dollar might sound counterintuitive as there has been an overabundance of hawkish US Federal Reserve (Fed) lean in the media.
“However, we do not think the FOMC meeting will lead to significant repricing in the front end of the yield curve which is essential for foreign exchange,” he said.
Innes also explained that the changes in market pricing for the end of 2024 and 2025 have moved closer to the median projections in the Fed’s “dot plot” since the last FOMC meeting.
“Hence if anything, the tail risk is for the US dollar to weaken if the Fed does not meet hawkish forward expectations,” he told Bernama.
Meanwhile, Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid noted that inflation in the UK continued to head south with the August headline and core inflation moderating to 6.7% (July: 6.8%) and 6.2% (July: 6.9%), respectively.
“Perhaps the Bank of England’s benchmark rate has really been nearing its peak level. On the US dollar-ringgit pair, the ringgit showed a slight appreciation of 0.23% to the US dollar.
“However, it remains to be seen whether such appreciation can be sustained,” he said, adding that we shall see how the Fed’s narrative and their latest forecasts (play out) when they conclude the FOMC meeting tonight.
At 6pm, the local currency improved to 4.6840/4.6880 against the greenback from yesterday’s close of 4.6940/4.6980.
The ringgit was traded higher against a basket of major currencies.
It rose against the Japanese yen to 3.1653/3.1682 from 3.1776/3.1806 at yesterday’s close, advanced against the euro at 5.0114/5.0157 from 5.0160/5.0203 and was better versus the British pound at 5.7955/5.8005 from 5.8126/5.8175 yesterday.
At the same time, the local currency also traded higher against other Asean currencies.
It strengthened vis-à-vis the Singapore dollar to 3.4348/3.4382 from 3.4436/3.4468 yesterday and gained against the Philippine peso at 8.24/8.26 from 8.27/8.28 previously.
It also appreciated against the Indonesian rupiah to 304.5/304.9 from 305.1/305.6 at yesterday’s close and firmed versus the Thai baht to 12.9891/13.0056 from 13.0563/13.0718 yesterday. - FMT


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2023/09/ringgit-ends-higher-ahead-of-fomc.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Ringgit Lower Ahead Of Tonight S Us Inflation Data

Ringgit Lower Ahead Of Tonight S Us Inflation Data

papar berkaitan - pada 14/9/2023 - jumlah : 147 hits
KUALA LUMPUR The ringgit fell against the US dollar today ahead of tonight s key US inflation data analysts said The focus now is on the US consumer price index which will be announced tonight Consensus estimates showed US inflation for Aug...
Nov 9 Decision In Syed Saddiq S Graft Case

Nov 9 Decision In Syed Saddiq S Graft Case

papar berkaitan - pada 21/9/2023 - jumlah : 144 hits
He also faces two counts of money laundering involving RM50 000 each believed to be proceeds from unlawful activities by moving them from his Maybank Islamic Bhd account into his Amanah Saham Bumiputera account at a bank at Jalan Persisiran...
In 2 1 Decision Court Of Appeal Restores Home Ministry S Ban On Gay Is Ok Book

In 2 1 Decision Court Of Appeal Restores Home Ministry S Ban On Gay Is Ok Book

papar berkaitan - pada 25/9/2023 - jumlah : 237 hits
The Court of Appeal in a majority decision today effectively restored the Home Minister s 2020 ban on a book titled Gay is OK A Christian Perspective Bernama photo PUTRAJAYA The Court of Appeal in a majority decision today effectively rest
Sabah Harapan No Discussion Decision On Musa Aman Taking Over

Sabah Harapan No Discussion Decision On Musa Aman Taking Over

papar berkaitan - pada 15/9/2023 - jumlah : 251 hits
Sabah Pakatan Harapan said there have been no discussions on Musa Aman helming the state coalition and made it clear that important decisions related to the people s mandate must be scrutinised by the current leadership The coalition s lead...
Who Warns Of Concerning Covid Trends Ahead Of Winter

Who Warns Of Concerning Covid Trends Ahead Of Winter

papar berkaitan - pada 7/9/2023 - jumlah : 92 hits
WHO estimates that there are hundreds of thousands of people in hospital now for Covid GENEVA The World Health Organization today warned of concerning trends for Covid 19 ahead of winter in the Northern Hemisphere calling for increased vacc...
Agc Dismisses Bar Claim Zahid Decision Tarnished Its Reputation

Agc Dismisses Bar Claim Zahid Decision Tarnished Its Reputation

papar berkaitan - pada 9/9/2023 - jumlah : 177 hits
Attorney General Ahmad Terrirudin Salleh said there were occasions prior to Ahmad Zahid Hamidi s case when charges were dropped even after a prima facie case had been established PETALING JAYA The attorney general s chambers has dismissed c...
Oct 30 Decision On Bersatu Challenge Against Account Seizure

Oct 30 Decision On Bersatu Challenge Against Account Seizure

papar berkaitan - pada 8/9/2023 - jumlah : 241 hits
Bersatu will know on Oct 30 whether it obtains civil court leave to proceed with the opposition party s judicial review over MACC s seizure of its two bank accounts The Kuala Lumpur High Court this afternoon set the decision date after hear...
No Injunction So We Went Ahead With Reclamation Says Chow

No Injunction So We Went Ahead With Reclamation Says Chow

papar berkaitan - pada 25/9/2023 - jumlah : 217 hits
Penang chief minister Chow Kon Yeow at a tanglung celebration in George Town this evening GEORGE TOWN Reclamation work for the RM8 5 billion Silicon Island project has begun as there has been no court injunction filed against it chief minis...
China S President To Host Official Dinner For Anwar

I Bought A Toy Like Vape Online Mp Tells Dewan Chamber

Unlocking Savings Expert Tips For Finding Discounted Cigarettes In Australia

Kips Bay Decorator Show House Dallas 2024 An Exquisite Showcase Of Design

India Secebis Kenangan Di India Random Photos

Anwar Slams Hypocritical Criticism Over His Response To Najib S Apology

A Sucker Punch For Rm1 000 What S The Value Of Dignity In Malaysia

Makan Malam Tiga Beranak Di Adam Kitchen


echo '';
Biodata Terkini Penyanyi Illa Sabry Peserta Gegar Vaganza 2024 Musim 11 GV11

Info Dan Sinopsis Drama Berepisod Senyawa iQIYI Malaysia

Info Dan Sinopsis Drama Berepisod Project Projek Exit Astro Originals

Pelajari Asal Usul Nama Makhluk Seram Kisah Fiksyen Barat Yang Terkenal

10 Fakta Filem Kahar Kapla High Council Yang Ramai Tak Tahu Prekuel Drama Project Projek High Council


Sotong Rebus Hitam Kelantan

Realiti Bila Ada Anak Kecil

Love Please Don T Let Me Go Angelina Jordan

Konsep Wadiah Pengertian Hukum Dan Rukun Dalam Perspektif Syariah

Sayonara Iza Arina

Build A Strong Team For A Startups