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Ringgit opens mixed against regional peers amid stronger US jobs data
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KUALA LUMPUR: The ringgit opened mixed against regional peers and was mostly firmer against major currencies today, amid cautious market sentiment following stronger-than-expected United States jobs data.
At 8 am, however, the local unit slipped to 3.9755/9855 against the greenback from Tuesday’s close of 3.9745/9785.
Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) appears to be gaining strength, rising 0.14 per cent to 99.327 points following higher-than-expected labour market data.
He said the weekly automatic data processing (ADP) employment change rose to 42,250 from 33,000 previously.
Ringgit holds firm against major currencies despite stronger US dollar and West Asia tensions
The national currency trades in a narrow range as robust US labour data and lingering uncertainty surrounding US-Iran negotiations reinforce cautious investor sentiment across global markets
THE ringgit opened mixed against regional currencies but remained broadly firmer against several major global currencies today as investors weighed stronger-than-expected United States employment data against rising geopolitical uncertainty linked to stalled US-Iran negotiations.
At 8am, the local currency edged slightly lower against the US dollar, trading at 3.9755/9855 compared with Tuesday’s close of 3.9745/9785.
Market analysts said the modest weakness reflected renewed support for the greenback following fresh indications that the American labour market remained resilient despite broader economic uncertainties.
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Ringgit Steadies Near 3.97 As Investors Track US Iran Negotiations And Oil Spike
The ringgit opened slightly higher against the US dollar on Tuesday as market sentiment continued to focus on developments in West Asia, Bernama reported.
At 8 am, the local unit rose to 3.9705/9760 against the greenback from Monday’s close of 3.9720/9770.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said market sentiment continued to revolve around the situation in West Asia, as the United States (US) and Iran continued negotiations for a resolution, which, to a large extent, remained highly elusive.
“The latest development showed that US President Donald Trump had called off plans to attack Iran as serious negotiations with Tehran are ongoing,” he told Bernama.
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