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Daily Express
20-05-2025
- Business
- Daily Express
Ringgit opens slightly lower against greenback ahead of fed rate decision
Published on: Tuesday, May 20, 2025 Published on: Tue, May 20, 2025 By: Bernama Text Size: At 8 am, the local note eased to 4.2900/3020 against the greenback from Monday's close of 4.2870/2945. Kuala Lumpur: The ringgit opened marginally lower against the US dollar on Tuesday as traders remained cautious ahead of a possible interest rate cut by the United States Federal Reserve (Fed), an analyst said. At 8 am, the local note eased to 4.2900/3020 against the greenback from Monday's close of 4.2870/2945. Advertisement Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said New York Fed President John Williams and Atlanta Fed President Raphael Bostic have signalled that policymakers will continue to assess incoming data before making any decision. 'The US Dollar Index (DXY) fell 0.66 per cent to 100.426 points, as sentiment in the equities market improved, although several Fed officials remain reluctant to cut rates in the near term,' he told Bernama. He said the two- and 10-year US Treasury yields slipped two and three basis points respectively to 3.98 per cent and 4.45 per cent, while the odds of a rate cut in June stand at below 10 per cent, based on Fed Fund Rate futures. 'Nonetheless, we expect the ringgit to stay supported as market sentiment improves amid tariff negotiations between the US and various countries globally,' he added. Advertisement Despite its slightly weaker performance against the greenback, the ringgit traded mostly higher against a basket of major and regional currencies at the opening. It rose against the Japanese yen to 2.9582/9667 from Monday's 2.9596/9650, appreciated versus the euro to 4.8181/8316 from 4.8344/8429, and strengthened against the British pound to 5.7302/7462 from 5.7420/7521. Against regional peers, it inched up versus the Singapore dollar to 3.3120/3218 from 3.3135/3195 and firmed against the Thai baht to 12.9388/9864 from 12.9630/9924. The local note, however, slipped against the Indonesian rupiah to 261.0/261.9 from 260.8/261.4, and eased against the Philippine peso to 7.70/7.73 from 7.69/7.71. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
20-05-2025
- Business
- The Sun
Ringgit opens slightly lower against greenback ahead of fed rate decision
KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Tuesday as traders remained cautious ahead of a possible interest rate cut by the United States Federal Reserve (Fed), an analyst said. At 8 am, the local note eased to 4.2900/3020 against the greenback from Monday's close of 4.2870/2945. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said New York Fed President John Williams and Atlanta Fed President Raphael Bostic have signalled that policymakers will continue to assess incoming data before making any decision. 'The US Dollar Index (DXY) fell 0.66 per cent to 100.426 points, as sentiment in the equities market improved, although several Fed officials remain reluctant to cut rates in the near term,' he told Bernama. He said the two- and 10-year US Treasury yields slipped two and three basis points respectively to 3.98 per cent and 4.45 per cent, while the odds of a rate cut in June stand at below 10 per cent, based on Fed Fund Rate futures. 'Nonetheless, we expect the ringgit to stay supported as market sentiment improves amid tariff negotiations between the US and various countries globally,' he added. Despite its slightly weaker performance against the greenback, the ringgit traded mostly higher against a basket of major and regional currencies at the opening. It rose against the Japanese yen to 2.9582/9667 from Monday's 2.9596/9650, appreciated versus the euro to 4.8181/8316 from 4.8344/8429, and strengthened against the British pound to 5.7302/7462 from 5.7420/7521. Against regional peers, it inched up versus the Singapore dollar to 3.3120/3218 from 3.3135/3195 and firmed against the Thai baht to 12.9388/9864 from 12.9630/9924. The local note, however, slipped against the Indonesian rupiah to 261.0/261.9 from 260.8/261.4, and eased against the Philippine peso to 7.70/7.73 from 7.69/7.71.
The Sun
20-05-2025
- Business
- The Sun
Ringgit opens slightly lower against us dollar
KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Tuesday as traders remained cautious ahead of a possible interest rate cut by the United States Federal Reserve (Fed), an analyst said. At 8 am, the local note eased to 4.2900/3020 against the greenback from Monday's close of 4.2870/2945. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said New York Fed President John Williams and Atlanta Fed President Raphael Bostic have signalled that policymakers will continue to assess incoming data before making any decision. 'The US Dollar Index (DXY) fell 0.66 per cent to 100.426 points, as sentiment in the equities market improved, although several Fed officials remain reluctant to cut rates in the near term,' he told Bernama. He said the two- and 10-year US Treasury yields slipped two and three basis points respectively to 3.98 per cent and 4.45 per cent, while the odds of a rate cut in June stand at below 10 per cent, based on Fed Fund Rate futures. 'Nonetheless, we expect the ringgit to stay supported as market sentiment improves amid tariff negotiations between the US and various countries globally,' he added. Despite its slightly weaker performance against the greenback, the ringgit traded mostly higher against a basket of major and regional currencies at the opening. It rose against the Japanese yen to 2.9582/9667 from Monday's 2.9596/9650, appreciated versus the euro to 4.8181/8316 from 4.8344/8429, and strengthened against the British pound to 5.7302/7462 from 5.7420/7521. Against regional peers, it inched up versus the Singapore dollar to 3.3120/3218 from 3.3135/3195 and firmed against the Thai baht to 12.9388/9864 from 12.9630/9924. The local note, however, slipped against the Indonesian rupiah to 261.0/261.9 from 260.8/261.4, and eased against the Philippine peso to 7.70/7.73 from 7.69/7.71.
The Star
20-05-2025
- Business
- The Star
Ringgit opens slightly lower against greenback ahead of Fed rate decision
KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Tuesday as traders remained cautious ahead of a possible interest rate cut by the United States Federal Reserve (Fed), an analyst said. At 8 am, the local note eased to 4.2900/3020 against the greenback from Monday's close of 4.2870/2945. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said New York Fed President John Williams and Atlanta Fed President Raphael Bostic have signalled that policymakers will continue to assess incoming data before making any decision. "The US Dollar Index (DXY) fell 0.66 per cent to 100.426 points, as sentiment in the equities market improved, although several Fed officials remain reluctant to cut rates in the near term,' he told Bernama. He said the two- and 10-year US Treasury yields slipped two and three basis points respectively to 3.98 per cent and 4.45 per cent, while the odds of a rate cut in June stand at below 10 per cent, based on Fed Fund Rate futures. "Nonetheless, we expect the ringgit to stay supported as market sentiment improves amid tariff negotiations between the US and various countries globally,' he added. Despite its slightly weaker performance against the greenback, the ringgit traded mostly higher against a basket of major and regional currencies at the opening. It rose against the Japanese yen to 2.9582/9667 from Monday's 2.9596/9650, appreciated versus the euro to 4.8181/8316 from 4.8344/8429, and strengthened against the British pound to 5.7302/7462 from 5.7420/7521. Against regional peers, it inched up versus the Singapore dollar to 3.3120/3218 from 3.3135/3195 and firmed against the Thai baht to 12.9388/9864 from 12.9630/9924. The local note, however, slipped against the Indonesian rupiah to 261.0/261.9 from 260.8/261.4, and eased against the Philippine peso to 7.70/7.73 from 7.69/7.71. - Bernama
Barnama
14-05-2025
- Business
- Barnama
Ringgit Opens Higher Against US Dollar As US-China Trade Tensions Ease
By Engku Shariful Azni Engku Ab Latif and Harizah Hanim Mohamed KUALA LUMPUR, May 14 (Bernama) -- The ringgit opened higher against the US dollar today, as easing US-China trade tensions brought relief to the financial markets, reducing recession fears and boosting risk-on sentiment among the traders and investors, an analyst said. At 8.01 am, the local note appreciated to 4.3045/3245 versus the US dollar compared to Tuesday's close of 4.3185/3250. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US consumer price index (CPI) grew 2.3 per cent year-on-year in April, slightly below market expectations of 2.4 per cent, while core CPI sustained at 2.8 per cent. "The moderation in CPI also suggests that concerns over US tariff-induced inflation may take a backseat for now," he told Bernama. Mohd Afzanizam said the economic data also indicates that the US Federal Reserve (Fed) has the policy space to reduce the Fed Fund Rate going forward. Therefore, the Federal Open Market Committee meeting on June 17 and 18 will be crucial, as the Fed is set to publish its latest quarterly macroeconomic forecast, he added. "The latest National Federation of Independent Business Optimism Index, which reflect small business sentiment, declined 95.8 points in April, the fourth consecutive months of decline since January this year. "Hence, the case for lower interest rate is valid, as weak business sentiments would result in reduced capital spending and hiring appetite," he said.
