KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today following the decline in the United States (US) benchmark equities last night, an *** yst said.

At 9 am, the local currency depreciated to 4.3995/4020 against the greenback from 4.3960/3975 at the close yesterday.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US benchmark equities were down last night as investors were spooked by the US consumer confidence report.

"According to the Conference Board, the US consumer confidence index fell to 98.7 points in June from 103.2 in May -- the lowest level seen since February 2021.

"The decline reinforced the view that the US economy is expected to slow down going forward as consumers grapple with the high-cost environment," he told Bernama.

He added that consumers are expected to reprioritise their spending patterns, which could lead to a moderation in economic growth as consumer spending account for 70 per cent of the US economy.

Meanwhile, the 10-year US Treasury yields fell by close to three basis points to 3.17 per cent, while the US Dollar Index (DXY) rose to 104.506 points.

"The dollar-ringgit pair could remain tepid but the recent news on the upward revision of the sovereign rating outlook by S&P Global Ratings (S&P) -- from ‘negative’ to ‘stable’ -- suggests that the Malaysian government has the fiscal space to remain expansionary.

"The S&P rating asses *** ent is predicated on the sturdy economic growth and comfortable level of external balances," he said.

Meanwhile, the local currency was traded mostly higher against a basket of major currencies.

The ringgit rose against the British pound to 5.3630/3660 from Tuesday's close of 5.3899/3918, gained against the Singapore dollar to 3.1694/1717 from 3.1726/1742 and strengthened against the euro to 4.6278/6305 from 4.6527/6543 yesterday.

However, the local note had slid vis-a-vis the Japanese yen to 3.2349/2370 from 3.2333/2346 previously. - Bernama

转载说明:本文转载自Sunbet。 电报群导航声明:该文看法仅代表作者自己,与本平台无关。转载请注明:usdt支付接口( opens slightly lower against US dollar


博彩平台网址大全( tie up again for collective purchase of Park View
1 条回复
  1. 买usdt最便宜的地方(
    (2022-08-01 00:03:52) 1#

    电报群搜索工具是一个Telegram群组分享平台,电报群搜索工具包括电报群搜索工具、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组(其他)、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。电报群搜索工具为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。