Ringgit Jumps Out Of 25 Year Lows On Weaker Us Nfp Data

KUALA LUMPUR: The ringgit continued its rally for the third consecutive day and jumped out of 25-year lows as weaker US nonfarm payrolls (NFP) data spurred hopes that a cut in US interest rates would happen earlier than expected.The local currency had been languishing at 25-year lows in recent weeks.
The NFP, which is the gauge for the total number of jobs created in the US, rose at a slower pace to 150,000 in October while the unemployment rate crept up to 3.9% after remaining at 3.8% in the past two quarters, dampening sentiment for the greenback.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said the ringgit has clocked a 2.28% gain on a month-to-date basis, the second best-performing currency after the South Korean won.
“The USD-MYR is currently at RM4.6570, which already breached the immediate support level of RM4.6611,” he told Bernama.
Going forward, Afzanizam said he believes the scope for further appreciation will depend on the next US Federal Open Market Committee meeting which is scheduled for mid-December.
“While the Fed funds rate is expected to remain unchanged, the latest quarterly forecast will be closely scrutinised by the markets.
“The September forecast showed that the US Federal Reserve is expected to cut the rate by 25 to 50 basis points next year,” he added.
At 6pm, the ringgit surged to 4.6340/4.6400 against the greenback from last Friday’s close of 4.7265/4.7320.
At the close, the ringgit also traded higher versus a basket of major currencies.
It rallied against the Japanese yen to 3.0959/3.1002 from 3.1445/3.1484 at the close last Friday, strengthened versus the euro to 4.9806/4.9871 from 5.0318/5.0377 and gained against the British pound to 5.7462/5.7536 from 5.7734/5.7801.
The ringgit also turned higher against other Asean currencies.
It appreciated against the Singapore dollar to 3.4341/3.4388 from 3.4713/3.4756 and rose vis-a-vis the Indonesian rupiah to 298.1/298.7 from 300.5/300.9 at the close last Friday.
It jumped against the Thai baht to 13.0521/13.0741 from 13.2332/13.2553 previously and gained against the Philippine peso to 8.29/8.30 from 8.42/8.44 last Friday. - FMT

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

http://malaysiansmustknowthetruth.blogspot.com/2023/11/ringgit-jumps-out-of-25-year-lows-on.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

Sg Money Changers Out Of Ringgit Notes After Exchange Rate Hits 3 5 Mark

papar berkaitan - pada 27/10/2023 - jumlah : 200 hits
In the light of the remarkable 3 50 exchange rate that the Singapore dollar achieved on October 24th compared to the Malaysian ringgit money changers in Singapore have been receiving a flurry of customers China Press reported that no less t...

16 Year Old Driver Out On Police Bail After Fatal Crash

papar berkaitan - pada 12/11/2023 - jumlah : 397 hits
The wreckage of a car and a motorcycle involved in a fatal Penang Bridge accident on Saturday BUKIT MERTAJAM A 16 year old car driver involved in an accident which killed a motorcyclist and his pillion rider on the Penang Bridge early yeste...

Luxury Goods Tax To Roll Out On May 1 Next Year

papar berkaitan - pada 3/11/2023 - jumlah : 319 hits
Prime Minister Anwar Ibrahim says the finance ministry is in the final stages of completing the tax policy and legislation The new luxury goods tax will take effect on May 1 next year says Prime Minister Anwar Ibrahim Anwar who is also the ...

Ringgit Closes Higher On Us 10 Year Treasury Yield Decline

papar berkaitan - pada 27/10/2023 - jumlah : 324 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 Retreats Slightly As Malaysia S Ipi Data Slips

papar berkaitan - pada 7/11/2023 - jumlah : 189 hits
KUALA LUMPUR The ringgit reversed the previous day s gains to close lower against the greenback today due to lower Industrial Production Index data and a technical correction after appreciating over the last three trading days said an analy...

Father Arrested For Punching Kicking 12 Year Old Child

papar berkaitan - pada 31/10/2023 - jumlah : 294 hits
Police said the victim was treated for soft tissue injuries to his back and thigh PETALING JAYA A 12 year old boy was punched and kicked by his father in Kampung Perah Gerik yesterday a day after the victim celebrated his birthday according...

Samsung Malaysia Electronics Wins Brand And Service Experience Of The Year At Asian Experience Awards

papar berkaitan - pada 29/10/2023 - jumlah : 275 hits
Samsung is always at the forefront of innovation and customer centric initiatives solidifying its position as a leading brand for Malaysian consumers Teng Kah Wee Head of Customer Satisfaction Samsung Malaysia Electronics receiving the awar...

Couple On Bike Killed In Crash With Car Driven By 16 Year Old

papar berkaitan - pada 12/11/2023 - jumlah : 223 hits
Seberang Perai Tengah police chief Tan Cheng San said three vehicles a motorcycle a car and a lorry were involved in the 2 30am crash BUKIT MERTAJAM A motorcyclist and his pillion rider were killed after the motorcycle they were on was hit ...

Touch N Go Ewallet Wins Fintech Of The Year 2023 Further Solidifying Position As Malaysia S Leading Ewallet

papar berkaitan - pada 29/10/2023 - jumlah : 302 hits
Touch n Go eWallet emerged as winner of the Fintech of the Year at the Fintech Frontiers Awards Malaysia that took place October 4 2023Further establishing its position as Malaysia s number one eWallet Touch n Go eWallet stayed ahead of the...