Ringgit Opening, Ringgit Higher

Ringgit Opening, Ringgit Higher

Ringgit up against broadly declining US dollar | Malay Mail

Ringgit up against broadly declining US dollar | Malay Mail

10/4/2020 4:20:00 PM

Ringgit up against broadly declining US dollar | Malay Mail

KUALA LUMPUR, April 10 — The ringgit continues yesterday’s upward momentum to trade higher against the US dollar in the early session today on a broadly weaker greenback following the announcement of another stimulus by the US Federal Reserve (Fed). The announcement lifted the equities but...

Friday, 10 Apr 2020 10:27 AM MYTThe ringgit stays on the upside with US dollar pulled down by the Fed's huge fresh stimulus package. — Reuters picKUALA LUMPUR, April 10 — The ringgit continues yesterday’s upward momentum to trade higher against the US dollar in the early session today on a broadly weaker greenback following the announcement of another stimulus by the US Federal Reserve (Fed).

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The announcement lifted the equities but caused further selling in the greenback.At 9.03 am, the ringgit was quoted at 4.3180/3270 against the US dollar compared with yesterday's close of 4.3320/3380.Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the Fed's announcement of another aid package amounting to US$2.3 trillion suggests the US central bank will do whatever it takes to revive the economy especially on the functioning of credit markets.

The US has recorded 6.6 million unemployment claims, which he said, was an indication of the dire straits of the labour markets and economics dislocation following the spread of Covid-19.“This is the third consecutive week jobless claims have gone up at all-time high and unemployment rate going forward could easily reach double-digit pace,” he said.

He noted the ringgit had appreciated this morning against the greenback and the trend might continue as governments across the globe are getting ready to pump-prime their economy, be it fiscal or monetary.“This could give hope that the economy would rebound forcefully should COVID-19 spread can be contained,” he told Bernama.

Meanwhile, AxiCorp global chief market strategist Stephen Innes said the Organisation of the Petroleum Exporting Countries and allied oil producers (Opec+) meeting yesterday has decided to cut 10 million barrel per day (bpd).“Although oil prices are lower today, I think the production cut will eventually prove to be bullish for oil especially in light of the definite Covid-19 curve flattening data, which suggests lockdowns will end quicker than expected

“And with China's economy turning healthy, regional trading partners like Malaysia will benefit greatly once the Movement Control Order is lifted while riding the significant tailwind from the government stimulus efforts,” he added.The ringgit traded mixed against a basket of major currencies.

It decreased vis-a-vis the euro at 4.7157/7264 compared to the 4.7123/7202 yesterday’s close and fell against the Singapore dollar to 3.0460/0543 from 3.0432/0841.The local unit rose versus the Japanese yen to 3.9779/9873 from 3.9802/9868 and appreciated against the British pound to 5.3742/3893 from 5.3834/3926 yesterday. — Bernama

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Ringgit opens lower against US dollar in early session | Malay MailKUALA LUMPUR, April 9 ― The ringgit traded higher against the US dollar in the early session today lifted by improved global sentiment in the equities and commodities market ahead of Organisation of Petroleum Exporting Countries (Opec) + meeting later today. At 9.03am, the ringgit was quoted at...

Ringgit ends higher against US dollar | Malay MailKUALA LUMPUR, April 9 — The ringgit ended higher against the US dollar ahead of the outcome of the virtual meeting held by the Organisation of the Petroleum Exporting Countries and allied oil producers (Opec+) later today, said an analyst. At 6pm, the domestic unit was pegged at 4.3320/3380...

Ringgit opens lower despite US dollar’s overnight retracement | Malay MailKUALA LUMPUR, April 8 ― The ringgit traded lower against the US dollar today despite a broad overnight greenback retracement with the focus back to the sliding crude oil prices and the Organisation of Petroleum Exporting Countries (Opec) + meeting tomorrow. At 9.05am, the ringgit was quoted at...

Ringgit eases against US dollar at close | Malay MailKUALA LUMPUR, April 8 — The ringgit fell against the US dollar at the close today amid cautious sentiment in the oil market ahead of the anticipated Opec+ meeting tomorrow. At 6 pm, the local unit was pegged at 4.3450/3454 against the greenback compared with yesterday’s close of...

Ringgit rises vs weaker US$ as Fed rolls out more stimulusKUALA LUMPUR: The ringgit continued Thursday’s upward momentum to trade higher against the US dollar in the early session on Friday on a broadly weaker greenback following the announcement of further stimulus measures by the US Federal Reserve (Fed). DukeandDuchessofCambridge and video called pupils at Casterton Primary Academy in Burnley. KateMiddleton opted .. أمين HIGHER, STRONGER, FASTER, SMARTER, AND MOST STABLE ب عزت الله