Ringgit Ends Higher Amid Correction Mode

KUALA LUMPUR: The ringgit strengthened against the world’s major currencies at the end of trading today as its correction continued.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said the ringgit is still in correction mode after the recent sharp downtrend, but opined that the trend could be short-lived.
“The US dollar will continue to be in high demand in times of global uncertainties.
“We believe the focus is on how the Palestine-Israel conflict would evolve, especially on the possible ground invasion,” he said, adding that things are still fluid and can swiftly change course.
As such, Afzanizam said market participants will continue to pay close attention to the development in the Middle East.
At the same time, the development in China’s property debt crisis also sparked concerns.
“This is following reports that for the first time, Chinese developer, Country Garden has failed to pay interest on its US dollar bond within a grace period that ended last week,” he added.
Market players are also waiting for the US third-quarter gross domestic product preliminary estimates tomorrow to gauge the next US Federal Reserve’s interest rate decision ahead of its meeting at the end of this month.
S&P Global Manufacturing Purchasing Managers’ Index (PMI) for the US rose to 50 in October 2023, an improvement from September’s 49.8, showing economic resilience, consequently boosting the greenback.
At 6pm, the ringgit rose to 4.7780/4.7830 against the US dollar from yesterday’s close of 4.7825/4.7865.
The ringgit increased against the euro to 5.0494/5.0547 from 5.0881/5.0924 at the close yesterday.
It gained versus the British pound to 5.7905/5.7965 from 5.8557/5.8606 and edged up against the Japanese yen to 3.1866/3.1902 from 3.1960/3.1989 previously.
The local note was also traded higher against other Asian currencies.
It rose vis-a-vis the Singapore dollar to 3.4871/3.4910 from 3.5003/3.5035 at yesterday’s close.
It gained against the Indonesian rupiah to 301.0/301.5 from 301.7/302.1, appreciated versus the Philippine peso to 8.40/8.41 from 8.42/8.43 and improved against the Thai baht to 13.1960/13.2153 from 13.2186/13.2352 previously. - FMT

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

http://malaysiansmustknowthetruth.blogspot.com/2023/10/ringgit-ends-higher-amid-correction-mode.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 Ends Higher On Positive Economic Data

papar berkaitan - pada 20/10/2023 - jumlah : 141 hits
KUALA LUMPUR The ringgit reversed its downtrend to end the week marginally higher against the US dollar driven by positive macroeconomic data that provided support for the local currency an economist said Bank Muamalat Malaysia Bhd chief ec...

Ringgit Ends Almost Flat Amid Geopolitical Woes

papar berkaitan - pada 17/10/2023 - jumlah : 131 hits
KUALA LUMPUR The ringgit ended almost flat against the US dollar today as investors continued to favour the greenback amid geopolitical woes in the Middle East an economist said SPI Asset Management managing partner Stephen Innes said ongoi...

Ringgit Closes Higher On Us 10 Year Treasury Yield Decline

papar berkaitan - pada 27/10/2023 - jumlah : 313 hits
KUALA LUMPUR The ringgit settled higher against the US dollar today after a fall in the US 10 year treasury yield which provided hope of easing inflation The Federal Reserve s preferred inflation gauge the core personal consumption expendit...

Ringgit Rises Amid Fed S Cues On Interest Rate Hikes

papar berkaitan - pada 12/10/2023 - jumlah : 220 hits
KUALA LUMPUR The ringgit rose against the US dollar at the close amid indications from the Federal Reserve that there will be no more interest rate hikes for the year SPI Asset Management managing partner Stephen Innes said even if the Fed ...

Trade Group Expects Minimal Hikes When Price Ceiling On Chicken Ends

papar berkaitan - pada 17/10/2023 - jumlah : 259 hits
The current price ceiling set by the government for a standard chicken is RM9 40 per kg PETALING JAYA A group representing livestock farmers expects minimal hikes in the price of chicken once the price ceiling on chicken is lifted next year...

A Match That Ends In Misery

papar berkaitan - pada 16/10/2023 - jumlah : 164 hits
Fed up with PAS antics Datuk Seri Dr Ahmad Zahid Hamidi said that the Islamist party needs to stop marrying for political convenience Based on his previous experience cooperating with the Islamist party the Barisan Nasional chairman said th...

Dpm Zahid Ends Uk Visit By Meeting Malaysian Students

papar berkaitan - pada 28/10/2023 - jumlah : 341 hits
LONDON Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi ended his three day working visit to the United Kingdom which began on Oct 25 by meeting almost 200 Malaysian students here Ahmad Zahid took the opportunity to explain various is...

Pengarah Jabatan Kerajaan Antara Ditahan Terima Suapan Jutaan Ringgit

papar berkaitan - pada 12/10/2023 - jumlah : 200 hits
Buletintv3PUTRAJAYA Suruhanjaya Pencegahan Rasuah Malaysia menahan empat individu termasuk pengarah jabatan kerajaan kerana disyaki terlibat memberi dan menerima suapan bernilai jutaan ringgit termasuk dalam bentuk kenderaan dan kediaman Tu...

Pay Engineers A Higher Starting Salary Says Minister

papar berkaitan - pada 17/10/2023 - jumlah : 172 hits
Human resources minister V Sivakumar said a Treasury circular should be used as a reference point on engineers salaries PETALING JAYA One third of engineers in Malaysia received starting salaries of less than RM2 000 per month according to ...