KUALA LUMPUR: The ringgit rose against the US dollar at the opening today in line with its regional peers due to positive sentiment arising from the upcoming meeting between US President Donald Trump and China President Xi Jinping.A dealer hoped that Trump-Xi meeting slated to be held during the G20 summit in Osaka, Japan end of this month, would provide the much-awaited solution to the escalating trade war involving the two economic superpowers.
As of 9 am, benchmark Brent Crude was at US$62.49 per barrel compared with US$60.46 per barrel yesterday. Besides the US-Sino trade war, reports of a possible interest rate cut by the US Federal Reserve and European Central Bank have also boosted investors sentiment for emerging markets.The local currency was lower at 5.2421/2476 compared with Tuesday’s close of 5.2355/2409 but improved versus the euro to 4.6729/6780 from 4.6745/6795.
However, it eased against the Singapore dollar to 3.0518/0551 from 3.0471/0497 but fared better against the yen to 3.8436/8474 from 3.8596/8635 yesterday.
Dont play around with words...prices of goods are still rising. Whatmore in Sabah!!!
Are you sure the driving factor is this sentiment or because China is dumping USD for Gold?
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