Ringgit seen to trade higher next week
==========
The ringgit is expected to trade higher against the US dollar next week due to sustained demand; Bank Muamalat's chief economist Dr. Mohd Afzanizam Abdul Rashid predicts it may breach RM4.3030; US non-farm payrolls and Bank Negara Malaysia's Monetary Policy Committee Meeting are key economic data to watch; since the currency peg removal on July 21, 2005, the average level was RM3.7875, indicating potential appreciation; AmBank Group forecasts further strengthening of the ringgit due to healthy fundamentals and US Federal Reserve's interest rate cuts; ringgit strengthened to 4.3185/3225 against the US dollar from 4.3720/3775; it also gained against the euro, British pound, Japanese yen, and ASEAN currencies; net foreign buying in Malaysian equities reached RM2.53 billion year-to-date as of August 29, 2024.
#Ringgit #UsDollar #BankNegaraMalaysia #Economy #InterestRates #ForeignInvestment #CurrencyExchange #Malaysia #FinancialMarkets #EconomicData
https://www.nst.com.my/business/economy/2024/09/1099966/ringgit-seen-trade-higher-next-week
New Straits Times /
npub1da…x087j
2024-09-02 00:53:36
Author Public Key
npub1da9xhqetht0hvcwa6g5ftpl58zs3zymrtf6t69rfw66hr2uk6gnq9x087jPublished at
2024-09-02 00:53:36Event JSON
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"content": "Ringgit seen to trade higher next week\n==========\n\nThe ringgit is expected to trade higher against the US dollar next week due to sustained demand; Bank Muamalat's chief economist Dr. Mohd Afzanizam Abdul Rashid predicts it may breach RM4.3030; US non-farm payrolls and Bank Negara Malaysia's Monetary Policy Committee Meeting are key economic data to watch; since the currency peg removal on July 21, 2005, the average level was RM3.7875, indicating potential appreciation; AmBank Group forecasts further strengthening of the ringgit due to healthy fundamentals and US Federal Reserve's interest rate cuts; ringgit strengthened to 4.3185/3225 against the US dollar from 4.3720/3775; it also gained against the euro, British pound, Japanese yen, and ASEAN currencies; net foreign buying in Malaysian equities reached RM2.53 billion year-to-date as of August 29, 2024.\n\n#Ringgit #UsDollar #BankNegaraMalaysia #Economy #InterestRates #ForeignInvestment #CurrencyExchange #Malaysia #FinancialMarkets #EconomicData\n\nhttps://www.nst.com.my/business/economy/2024/09/1099966/ringgit-seen-trade-higher-next-week",
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