Tag: currency trading
The gains however, are limited as most investors are cautious ahead of Bank Negara Malaysia’s Monetary Policy Committee meeting today.
Investors are staying cautious ahead of Bank Negara Malaysia’s monetary policy decision tomorrow.
The higher trade surplus has helped strengthen the ringgit's sentiment.
A decline in US manufacturing activity could lead to more Federal Reserve rate cuts this year, thus making the ringgit more appealing for investors.
The fall is in line with the decline in global oil prices, which has led to weaker demand.
Asian currencies will likely remain on the back foot against a resurgent US dollar but not to a high degree.
A slight uptick in oil prices has limited the losses seen in the ringgit, with Brent oil trading 0.65% higher.
The economy is expected to have expanded between 4.7% - 5% in the second quarter, a slight improvement from the growth seen in Q1.
At opening, the ringgit traded mixed against a basket of major currencies.
There is now a 30% chance that Britain will exit the bloc in October without a divorce agreement.
Investors have reacted positively that trade talks between the US and China will be resuming, boosting sentiment in the currency market.
The Ringgit opens flat against the US dollar as it continues to gain traction ahead of a expected US and European Central Bank (ECB) interest rate cut.
At 9.02am, the ringgit stood at 4.1080/1130 against the US dollar from 4.1070/1100 at yesterday’s close.
At 9.05am, the local note stood at 4.1070/1120 versus the greenback compared with Friday’s close of 4.1140/1170.
At 9.15am, the ringgit stood at 4.1090/1120 versus the greenback compared with yesterday’s close of 4.1140/1170.
At 9.50am, the local currency stood at 4.1400/1430 versus the greenback compared to 4.1410/1440 at yesterday’s close.
At 9.10am, the ringgit stood at 4.1400/1430 against the greenback from Thursday’s close of 4.1420/1460.
The prime minister speaks about his decision to impose the currency peg in 1998.
The euro has risen to five-month highs compared to trading partners' currencies.
At 9am, the ringgit was up to 4.1580/1620 against the greenback from 4.1730/1760 at Tuesday's close.