Tag: Malaysia economy
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Ringgit Dips Against US Dollar After Fed Keeps Rates Steady
Fed Maintains Rates, Upholds Stronger U.S. Currency The global financial landscape shifted modestly as the United States Federal Reserve decided to hold its benchmark interest rate steady, citing continued evidence of a gradual economic slowdown and controlled inflation. The decision, broadly expected by markets, reinforced expectations that the U.S. central bank will maintain a tighter…
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Ringgit Climbs to Fresh 7-Year High Against the Dollar as Trading Week Opens
Ringgit closes at fresh 7-year peak against the dollar The Malaysian ringgit closed the trading session at its strongest level in seven years, finishing at around 3.9500/3.9555 per U.S. dollar, from 3.9615/3.9670 at yesterday’s close. This marks the highest closing level since the ringgit touched 3.9480 in May 2018, signaling renewed investor confidence in Malaysia’s…
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Ringgit Climbs to Fresh 7-Year High Against the Dollar as Malaysian Economy Gains Momentum
Malaysian Ringgit Hits Fresh 7-Year High Against the Dollar The Malaysian ringgit finished the trading day at a surprising strength, closing at 3.9500/3.9555 per US dollar, up from yesterday’s 3.9615/3.9670 close. This marks the strongest closing level since May 2018, when the currency touched 3.9480 per dollar. Traders and economists are watching the pace of…
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Malaysia tightens expatriate pay to prioritize local hires amid investment debate
Malaysia raises minimum expatriate salaries to push local hiring Malaysia’s government is moving to raise the minimum salary for expatriates, a policy shift that officials say aims to strengthen local talent development while keeping the nation attractive to investors. The proposed framework centers on higher wage floors for skilled foreign workers, with a clear intent…
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Ringgit Opens Lower Against USD, Rises vs Major Currencies
Overview: Ringgit moves in mixed directions The Malaysian ringgit opened lower against the U.S. dollar on Wednesday, even as it posted gains against several major currencies. Traders cited a mix of geopolitical risk factors, carry-over market sentiment from recent headlines, and ongoing political discourse about monetary policy as drivers behind the uneven moves in the…
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Ringgit Edges Lower as DXY Strength Lifts US Policy Hopes
Rising DXY and US Policy Repricing Weigh on Ringgit Opening The ringgit opened marginally lower against the US dollar on Monday as a stronger U.S. Dollar Index (DXY) pressured the local currency. Dealers cited market expectations that the Federal Reserve might recalibrate its policy stance following softer U.S. jobs data released in the prior session.…
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Ringgit Edges Lower as Security of US Policy Repricing Lifts DXY
Ringgit Starts Week on Soft Note as DXY Strengthens The Malaysian ringgit opened the trading week slightly weaker against the US dollar, pressured by a firmer US Dollar Index (DXY) as markets recalibrate expectations for the pace and scope of United States monetary policy in light of softer jobs data. Traders said the move reflects…
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Ringgit slips as US policy repricing lifts DXY
Ringgit Opens Slightly Lower Amid Stronger DXY and Policy Repricing The Malaysian ringgit opened marginally lower on Monday, pressured by a firmer US Dollar Index (DXY) as markets repriced United States monetary policy following softer jobs data. Traders said the initial moves reflected a cautious posture ahead of more substantive cues from the Federal Reserve…
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Ringgit slips as US dollar firms ahead of payrolls data
Ringgit slips as US dollar firms ahead of payrolls data The Malaysian ringgit opened lower against the US dollar this morning, extending losses as traders brace for the key US non-farm payrolls (NFP) report. The local currency traded at 4.0650/0750 per greenback at 8 am local time, modestly weaker than the prior session, reflecting the…
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Domestic Demand Boosts Malaysia: KLCI and Ringgit Outlook
Overview Malaysia faces a year of navigating external headwinds while leaning more on domestic demand to sustain growth. With the global economy cooling and trade frictions persisting, investors are watching how domestic consumption, investment, and earnings momentum will support the Kuala Lumpur Composite Index (KLCI) and the ringgit. Early signals suggest that the economy could…