Latest news with #US-Japan
Barnama
an hour ago
- Business
- Barnama
Ringgit Ends Higher Against US Dollar, Other Major Currencies On Malaysia-US Trade Deal Optimism
By Fatin Umairah Abdul Hamid KUALA LUMPUR, July 24 (Bernama) -- The ringgit ended higher against the US dollar, buoyed by optimism that Malaysia could secure a more favourable trade deal with the United States (US), said an analyst. The local note also traded higher versus the US dollar for the fifth consecutive day. At 6 pm, the ringgit rose to 4.2135/2210 against the greenback from Wednesday's close of 4.2255/2300. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia is actively engaging in discussions with the US over the impending 25 per cent tariff rate set to take effect on Aug 1, aiming to secure a rate below 20 per cent. SPI Asset Management managing partner Stephen Innes said regional tailwinds further lifted sentiment after US President Donald Trump concluded a trade deal with Japan on Tuesday, which included reducing tariffs on the import of Japanese goods into the US to 15 per cent from 25 per cent. 'These developments are fuelling hopes that Washington's broader tariff strategy is shifting from confrontation to compromise. 'Against this backdrop, investors see Malaysia as a likely beneficiary of the next wave of bilateral deals,' he told Bernama. Innes added that the ringgit's recent gains may signal its potential to benefit from improved trade conditions following the US-Japan agreement.
Time of India
2 hours ago
- Business
- Time of India
US market today: Dow slips on Tesla drag, Nasdaq lifted by Alphabet; trade deal hopes support sentiment
US markets traded mixed on Thursday as investors weighed a raft of second-quarter corporate earnings while looking ahead to possible trade deals from President Donald Trump before the August 1 tariff deadline. The Nasdaq Composite gained 0.3% to 21,081.49 in early trade, led by a nearly 3% rise in Google-parent Alphabet. The company posted a better-than-expected $28.2 billion quarterly profit, citing strong demand for AI services, AFP reported. However, the Dow Jones Industrial Average slipped 0.5% to 44,779.70 as Tesla dragged the index lower. Shares of the EV maker tumbled around 8% after CEO Elon Musk flagged a 'rough patch' for earnings ahead. Chipotle Mexican Grill and Dow Chemical also fell sharply, each losing more than 10%. The S&P 500 was up 0.2% at 6,371.86. 'There is underlying enthusiasm for more trade deals being struck before the August 1 deadline,' said Patrick O'Hare of noting improved market sentiment after the US-Japan agreement that capped tariffs at 15%. Meanwhile, the European Central Bank kept interest rates unchanged, signalling a wait-and-watch approach on the outcome of eurozone-US trade talks. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Observer
3 hours ago
- Business
- Observer
Oman oil price reaches $70.52 per barrel
MUSCAT: The official price of Oman oil for September delivery on Wednesday reached $70.52. The price of Oman oil decreased by 18 cents compared to Tuesday's price of $70.70. The monthly average price of Omani crude oil for July delivery reached $63.62 per barrel, a decrease of $4.25 compared to the price for June delivery. Meanwhile, international oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a US tariff deal with Japan ahead of a US stocks data announcement. Brent crude futures were down 50 cents, or 0.7%, at $68.05 a barrel as of 11:19 GMT. US West Texas Intermediate crude futures were down 47 cents, or 0.7%, at $64.78 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against US tariffs. US President Donald Trump said on Tuesday that the US and Japan had struck a trade deal that included a 15% tariff on US imports from Japan. 'The slide (in prices) of the past three sessions appears to have abated but I don't expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment', said an analyst. — Agencies MUSCAT: The official price of Oman oil for September delivery on Wednesday reached $70.52. The price of Oman oil decreased by 18 cents compared to Tuesday's price of $70.70. The monthly average price of Omani crude oil for July delivery reached $63.62 per barrel, a decrease of $4.25 compared to the price for June delivery. Meanwhile, international oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a US tariff deal with Japan ahead of a US stocks data announcement. Brent crude futures were down 50 cents, or 0.7%, at $68.05 a barrel as of 11:19 GMT. US West Texas Intermediate crude futures were down 47 cents, or 0.7%, at $64.78 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against US tariffs. US President Donald Trump said on Tuesday that the US and Japan had struck a trade deal that included a 15% tariff on US imports from Japan. 'The slide (in prices) of the past three sessions appears to have abated but I don't expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment', said an analyst. — Agencies
The Star
4 hours ago
- Business
- The Star
Ringgit ends higher against US$, other major currencies on Malaysia-US trade deal optimism
KUALA LUMPUR: The ringgit ended higher against the US dollar and other major currencies, buoyed by optimism that Malaysia could secure a more favourable trade deal with the United States (US), said an analyst. The local note also traded higher versus the US dollar for the fifth consecutive day. At 6 pm, the ringgit rose to 4.2135/2210 against the greenback from Wednesday's close of 4.2255/2300. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia is actively engaging in discussions with the US over the impending 25 per cent tariff rate set to take effect on Aug 1, aiming to secure a rate below 20 per cent. SPI Asset Management managing partner Stephen Innes said regional tailwinds further lifted sentiment after US President Donald Trump concluded a trade deal with Japan on Tuesday, which included reducing tariffs on the import of Japanese goods into the US to 15 per cent from 25 per cent. "These developments are fuelling hopes that Washington's broader tariff strategy is shifting from confrontation to compromise. "Against this backdrop, investors see Malaysia as a likely beneficiary of the next wave of bilateral deals,' he told Bernama. Innes added that the ringgit's recent gains may signal its potential to benefit from improved trade conditions following the US-Japan agreement. At the close, the ringgit was higher against a basket of major currencies. It advanced against the Japanese yen to 2.8751/8804 from 2.8837/8870, rose against the British pound at 5.7080/7182 from 5.7230/7291 and inched up against the euro to 4.9517/9605 from 4.9586/9639. The local note was firmer against regional peers, except the Philippine peso. It increased vis-à-vis the Singapore dollar to 3.2995/3057 from 3.3071/3109, appreciated against the Thai baht to 13.0570/0863 from 13.1370/1567 and improved versus the Indonesian rupiah to 258.5/259.1 from 259.1/259.5. However, the local note traded slightly lower against the Philippine peso, at 7.43/7.45, compared to 7.42/7.44 at yesterday's close. - Bernama
New Straits Times
5 hours ago
- Business
- New Straits Times
Ringgit ends higher on Malaysia-US trade deal optimism
KUALA LUMPUR: The ringgit ended higher against the US dollar, buoyed by optimism that Malaysia could secure a more favourable trade deal with the United States (US), said an analyst. The local note also traded higher versus the US dollar for the fifth consecutive day. At 6pm, the ringgit rose to 4.2135/2210 against the greenback from Wednesday's close of 4.2255/2300. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia is actively engaging in discussions with the US over the impending 25 per cent tariff rate set to take effect on Aug 1, aiming to secure a rate below 20 per cent. SPI Asset Management managing partner Stephen Innes said regional tailwinds further lifted sentiment after US President Donald Trump concluded a trade deal with Japan on Tuesday, which included reducing tariffs on the import of Japanese goods into the US to 15 per cent from 25 per cent. "These developments are fuelling hopes that Washington's broader tariff strategy is shifting from confrontation to compromise. "Against this backdrop, investors see Malaysia as a likely beneficiary of the next wave of bilateral deals," he told Bernama. Innes added that the ringgit's recent gains may signal its potential to benefit from improved trade conditions following the US-Japan agreement. At the close, the ringgit was higher against a basket of major currencies. It advanced against the Japanese yen to 2.8751/8804 from 2.8837/8870, rose against the British pound at 5.7080/7182 from 5.7230/7291 and inched up against the euro to 4.9517/9605 from 4.9586/9639. The local note was firmer against regional peers, except the Philippine peso. It increased vis-à-vis the Singapore dollar to 3.2995/3057 from 3.3071/3109, appreciated against the Thai baht to 13.0570/0863 from 13.1370/1567 and improved versus the Indonesian rupiah to 258.5/259.1 from 259.1/259.5. However, the local note traded slightly lower against the Philippine peso, at 7.43/7.45, compared to 7.42/7.44 at yesterday's close.
