At 9.11am today, the ringgit was quoted at 4.2900/2960 against the greenback from 4.3150/3200 at the close yesterday. — Reuters pic
At 9.11am today, the ringgit was quoted at 4.2900/2960 against the greenback from 4.3150/3200 at the close yesterday.In a note, OANDA Asia Pacific senior market analyst, Jeffrey Halley said oil bounced sharply on Friday with both Brent crude and WTI posting near 90 per cent gains in May as US President Donald Trump left the US-China trade deal intact on Friday.
“Assuming no surprise headlines emerge to derail the rally, Brent crude looks set to advance on the US$40 a barrel region,” he said, adding that oil consumption seems set to increase in the near-term with PMI data suggesting a manufacturing recovery and lockdowns ending across the world.
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