Ringgit poised for further gains next week on Fed's rate cut hints
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The ringgit is expected to strengthen against the US dollar next week due to signals from the US Federal Reserve suggesting potential interest rate cuts in September; Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid predicts the ringgit could trade between RM4.3650 and RM4.3750; Key data to watch includes the US Personal Consumption Expenditure (PCE) Price Index for July; June's headline and core PCE inflation eased to 2.5% and 2.6%, respectively; Kenanga Investment Bank Bhd anticipates continued capital inflows into Malaysia; On August 19, the ringgit reached an 18-month high at RM4.3805; Year-to-date, the ringgit has appreciated by 5.01% against the US dollar; The ringgit strengthened to 4.3720/3775 against the US dollar from 4.4295/4350 a week ago; It gained against the euro but depreciated against the British pound and Japanese yen; Mixed performance against ASEAN currencies noted.
#Ringgit #UsDollar #MohdAfzanizamAbdulRashid #KenangaInvestmentBank #Pce #FederalReserve #Inflation #CapitalInflows #CurrencyExchange #EconomicOutlook
https://www.nst.com.my/business/economy/2024/08/1096406/ringgit-poised-further-gains-next-week-feds-rate-cut-hints
New Straits Times /
npub1da…x087j
2024-08-25 03:46:58
Author Public Key
npub1da9xhqetht0hvcwa6g5ftpl58zs3zymrtf6t69rfw66hr2uk6gnq9x087jPublished at
2024-08-25 03:46:58Event JSON
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"content": "Ringgit poised for further gains next week on Fed's rate cut hints\n==========\n\nThe ringgit is expected to strengthen against the US dollar next week due to signals from the US Federal Reserve suggesting potential interest rate cuts in September; Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid predicts the ringgit could trade between RM4.3650 and RM4.3750; Key data to watch includes the US Personal Consumption Expenditure (PCE) Price Index for July; June's headline and core PCE inflation eased to 2.5% and 2.6%, respectively; Kenanga Investment Bank Bhd anticipates continued capital inflows into Malaysia; On August 19, the ringgit reached an 18-month high at RM4.3805; Year-to-date, the ringgit has appreciated by 5.01% against the US dollar; The ringgit strengthened to 4.3720/3775 against the US dollar from 4.4295/4350 a week ago; It gained against the euro but depreciated against the British pound and Japanese yen; Mixed performance against ASEAN currencies noted.\n\n#Ringgit #UsDollar #MohdAfzanizamAbdulRashid #KenangaInvestmentBank #Pce #FederalReserve #Inflation #CapitalInflows #CurrencyExchange #EconomicOutlook\n\nhttps://www.nst.com.my/business/economy/2024/08/1096406/ringgit-poised-further-gains-next-week-feds-rate-cut-hints",
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