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The Star
27-05-2025
- Business
- The Star
Ringgit eases against greenback on profit-taking after recent gains
KUALA LUMPUR: The ringgit ended lower against the US dollar on Tuesday as cautious traders took profit after recent gains amid continued uncertainty in the global economic outlook. At 6 pm, the local note fell to 4.2345/2430 versus the US dollar from Monday's close of 4.2155/2220. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said it appeared that traders might have realised their gains in the currency markets after the recent steep appreciation of emerging currencies. "Nonetheless, the immediate (global) macroeconomic picture is pretty much unchanged, where sentiments among businesses and consumers are still cautious,' he told Bernama, noting that other emerging market currencies also depreciated against the American dollar as the US Dollar Index (DXY) rose to 99.018 points. "The US Conference Board will be publishing their latest survey on the consumer confidence index for May, with the latest data in April seeing a persistent fall to 86 points, representing the fifth consecutive month of decline since December last year. "The consensus (view is for) a slight improvement to 87.1 points. Perhaps lower gasoline prices might have lent some support to consumers during May, although such support is expected to be transitory,' he added. The ringgit traded mostly lower against a basket of major currencies at the close. It rose against the Japanese yen to 2.9425/9486 from Monday's close of 2.9506/9553, but fell vis-à-vis the euro to 4.8053/8150 from 4.7972/8046 and depreciated against the British pound to 5.7352/7467 from 5.7175/7263. The local note also traded lower against its ASEAN peers. It dropped against the Singapore dollar to 3.2894/2963 from 3.2826/2879 on Monday, and inched lower against the Thai baht to 12.9365/9676 from 12.9231/9466. The ringgit edged lower vis-à-vis the Philippine peso to 7.62/7.64 from 7.60/7.62 and weakened versus the Indonesian rupiah to 259.9/260.6 from 259.4/259.9. - Bernama
New Straits Times
27-05-2025
- Business
- New Straits Times
Ringgit eases against greenback on profit-taking after recent gains
KUALA LUMPUR: The ringgit ended lower against the US dollar on Tuesday as cautious traders took profit after recent gains amid continued uncertainty in the global economic outlook. At 6 pm, the local note fell to 4.2345/2430 versus the US dollar from Monday's close of 4.2155/2220. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said it appeared that traders might have realised their gains in the currency markets after the recent steep appreciation of emerging currencies. "Nonetheless, the immediate (global) macroeconomic picture is pretty much unchanged, where sentiments among businesses and consumers are still cautious," he told Bernama, noting that other emerging market currencies also depreciated against the American dollar as the US Dollar Index (DXY) rose to 99.018 points. "The US Conference Board will be publishing their latest survey on the consumer confidence index for May, with the latest data in April seeing a persistent fall to 86 points, representing the fifth consecutive month of decline since December last year. "The consensus (view is for) a slight improvement to 87.1 points. Perhaps lower gasoline prices might have lent some support to consumers during May, although such support is expected to be transitory," he added. The ringgit traded mostly lower against a basket of major currencies at the close. It rose against the Japanese yen to 2.9425/9486 from Monday's close of 2.9506/9553, but fell vis-à-vis the euro to 4.8053/8150 from 4.7972/8046 and depreciated against the British pound to 5.7352/7467 from 5.7175/7263. The local note also traded lower against its ASEAN peers. It dropped against the Singapore dollar to 3.2894/2963 from 3.2826/2879 on Monday, and inched lower against the Thai baht to 12.9365/9676 from 12.9231/9466. The ringgit edged lower vis-à-vis the Philippine peso to 7.62/7.64 from 7.60/7.62 and weakened versus the Indonesian rupiah to 259.9/260.6 from 259.4/259.9. -- BERNAMA TAGS: Ringgit close, US dollar, Mohd Afzanizam Abdul Rashid, profit-taking, emerging currencies
Barnama
27-05-2025
- Business
- Barnama
Ringgit Eases Against Greenback On Profit-Taking After Recent Gains
By Danni Haizal Danial Donald KUALA LUMPUR, May 27 (Bernama) -- The ringgit ended lower against the US dollar on Tuesday as cautious traders took profit after recent gains amid continued uncertainty in the global economic outlook. At 6 pm, the local note fell to 4.2345/2430 versus the US dollar from Monday's close of 4.2155/2220. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said it appeared that traders might have realised their gains in the currency markets after the recent steep appreciation of emerging currencies. 'Nonetheless, the immediate (global) macroeconomic picture is pretty much unchanged, where sentiments among businesses and consumers are still cautious,' he told Bernama, noting that other emerging market currencies also depreciated against the American dollar as the US Dollar Index (DXY) rose to 99.018 points. 'The US Conference Board will be publishing their latest survey on the consumer confidence index for May, with the latest data in April seeing a persistent fall to 86 points, representing the fifth consecutive month of decline since December last year. 'The consensus (view is for) a slight improvement to 87.1 points. Perhaps lower gasoline prices might have lent some support to consumers during May, although such support is expected to be transitory,' he added. The ringgit traded mostly lower against a basket of major currencies at the close. It rose against the Japanese yen to 2.9425/9486 from Monday's close of 2.9506/9553, but fell vis-à-vis the euro to 4.8053/8150 from 4.7972/8046 and depreciated against the British pound to 5.7352/7467 from 5.7175/7263.
The Star
27-04-2025
- Business
- The Star
Ringgit to trade between 4.37 and RM4.38 from Monday (April 28) as markets focus on a series of key US data releases
KUALA LUMPUR (Bernama): The ringgit is expected to hover within a tight range of RM4.37 to RM4.38 from Monday (April 28), as markets focus on a series of key US data releases, said Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid. He noted that the upcoming release of the US Conference Board Consumer Confidence Index for April is expected to show a decline to 88.5 points, down from 92.9 in March, with analysts forecasting the drop. This will be followed by the Institute for Supply Management (ISM) Manufacturing Index, which is expected to fall further to 47.9 points in April. Additionally, the US non-farm payroll and personal consumption expenditures inflation reports will also be closely watched, he added. "It will be a data-heavy week, with markets looking for clues on whether the US Federal Reserve (Fed) may reduce the Fed Funds Rate in the near term. "We remain positive on the ringgit, as prospects for US rate cuts are gaining momentum,' he told Bernama. The ringgit ended the week at 4.3705/3770 against the US dollar, marking an improvement from 4.4100/4175 the previous week. It also gained against the euro, strengthening to 4.9596/9670 from 5.0133/0218 last week, rose versus the Japanese yen to 3.0431/0481 from 3.0971/1028, and appreciated against the British pound to 5.8128/8214 from 5.8516/8616. The ringgit traded mostly higher against ASEAN currencies, gaining against the Indonesian rupiah to 259.6/260.2 from 261.2/261.8, appreciating against the Singapore dollar to 3.3228/3280 from 3.3603/3667, and strengthening against the Thai baht to 13.0195/0450 from 13.1599/1902. However, the local note traded almost flat against the Philippine peso, at 7.77/7.78 from 7.77/7.79 the previous Friday. - Bernama
Malay Mail
26-04-2025
- Business
- Malay Mail
Ringgit set to hover between RM4.37 and RM4.38 next week
KUALA LUMPUR, April 26 — The ringgit is expected to hover within a tight range of RM4.37 to RM4.38 next week, as markets focus on a series of key US data releases, said Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid. He noted that the upcoming release of the US Conference Board Consumer Confidence Index for April is expected to show a decline to 88.5 points, down from 92.9 in March, with analysts forecasting the drop. This will be followed by the Institute for Supply Management (ISM) Manufacturing Index, which is expected to fall further to 47.9 points in April. Additionally, the US non-farm payroll and personal consumption expenditures inflation reports will also be closely watched, he added. "It will be a data-heavy week, with markets looking for clues on whether the US Federal Reserve (Fed) may reduce the Fed Funds Rate in the near term. "We remain positive on the ringgit, as prospects for US rate cuts are gaining momentum,' he told Bernama. The ringgit ended the week at 4.3705/3770 against the US dollar, marking an improvement from 4.4100/4175 the previous week. It also gained against the euro, strengthening to 4.9596/9670 from 5.0133/0218 last week, rose versus the Japanese yen to 3.0431/0481 from 3.0971/1028, and appreciated against the British pound to 5.8128/8214 from 5.8516/8616. The ringgit traded mostly higher against ASEAN currencies, gaining against the Indonesian rupiah to 259.6/260.2 from 261.2/261.8, appreciating against the Singapore dollar to 3.3228/3280 from 3.3603/3667, and strengthening against the Thai baht to 13.0195/0450 from 13.1599/1902. However, the local note traded almost flat against the Philippine peso, at 7.77/7.78 from 7.77/7.79 the previous Friday. — Bernama
