Ringgit poised for technical correction against US dollar next week | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 19%
  • Publisher: 86%

KUALA LUMPUR, Oct 16 — The ringgit is expected to experience some technical correction in the coming days, trading in the range of RM4.15 to RM4.16 against the US dollar during the holiday-shortened week, an analyst said. Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said...

Malaysia Headlines News

Malaysia Latest News, Malaysia Headlines

KUALA LUMPUR, Oct 16 — The ringgit is expected to experience some technical correction in the coming days, trading in the range of RM4.15 to RM4.16 against the US dollar during the holiday-shortened week, an analyst said.

“Despite that, the ringgit appears to be fairly constructive in view of the elevated levels of commodity prices, namely Brent crude, liquefied natural gas and crude palm oil, which will help underpin Malaysia’s economic recovery. Meanwhile, Hong Leong Research said in a note that the ringgit saw big swings between 4.1500 and 4.1828 against the US dollar this week, before settling at a one-month high of 4.1545 as at Thursday’s close, up 0.7 per cent week-on-week.

“We are therefore ‘neutral’ to ‘slightly bearish’ on the US dollar/ringgit outlook, expecting a range of 4.14 to 4.17 for the holiday-shortened week. The downward trajectory could, however, be capped by cautiousness ahead of the tabling of the 2022 Budget on Oct 29,” it added.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ex-Taliban commander to plead not guilty in US court to killing US troops | Malay MailNEW YORK, Oct 15 — A former Taliban commander previously accused of kidnapping an American journalist is expected to plead not guilty on Friday to murdering https://www.reuters.com/world/asia-pacific/us-charges-former-taliban-commander-with-killing-us-troops-2008-2021-10-07 three US troops in...
Source: malaymail - 🏆 1. / 86 Read more »

Bitcoin tops US$60,000 as US mulls crypto fund | Malay MailLONDON, Oct 15 — Bitcoin breached the US$60,000 mark for the first time since April on growing hopes that US regulators will greenlight the first futures exchange-traded fund for the cryptocurrency. The digital currency was up 40 per cent from a month ago, reaching US$60,126, according to... before i sell u 2 china town punda....
Source: malaymail - 🏆 1. / 86 Read more »

Ringgit opens lower as US dollar buoyed by buying interest | Malay MailKUALA LUMPUR, Oct 15 — The ringgit opened easier against the US dollar today after recording gains in the last four straight sessions. At 9am, the local note fell to 4.1540/1570 versus the greenback from Thursday’s close of  4.1525/1560. ActivTrades trader Dyogenes...
Source: malaymail - 🏆 1. / 86 Read more »

Ringgit retreats to end easier against US dollar | Malay MailKUALA LUMPUR, Oct 15 — The ringgit retreated on profit-taking to end easier against the US dollar today after six consecutive days of gains, dealers said. At 6pm, the local note fell to 4.1560/1590 versus the greenback from Thursday’s closing of 4.1525/1560. A dealer said the US dollar remained...
Source: malaymail - 🏆 1. / 86 Read more »

Ringgit ends firmer against US dollar amid strong commodity prices | Malay MailKUALA LUMPUR, Oct 14 — The ringgit continued its uptrend to end firmer against the US dollar today amid strong commodity prices and risk-on mode in the equity market, dealers said. At 6pm, the local note strengthened to 4.1525/1560 versus the greenback from Wednesday’s closing of 4.1590/1610.... Dajal deception currency vs real knowledge
Source: malaymail - 🏆 1. / 86 Read more »

Covid-19: US experts recommend Moderna booster for older and at-risk groups | Malay MailWASHINGTON, Oct 15 ― An expert committee yesterday recommended a booster dose of Moderna's anti-Covid vaccine in the United States for certain at-risk groups, a month after making a similar decision for the Pfizer shot. The opinion submitted by the advisory committee of the Food and Drug...
Source: malaymail - 🏆 1. / 86 Read more »