ug环球360:Ringgit extends losses to open marginally lower against US$
KUALA LUMPUR: The ringgit extended yesterday’s losses to open marginally lower against the US dollar today as more investors shifted towards safe havens due to the cautious global economic outlook, dealers said.
At 9.05 am, the local currency slipped to 4.4450/4485 versus the greenback from Thursday’s close of 4.4435/4450.
ActivTrades trader Dyogenes Rodrigues Diniz said the greenback rose against the ringgit on Friday, on the back of the release of producer price index (PPI) data that measures inflation from a business perspective.
The PPI came in much higher than expected, reinforcing worries over rampant inflation in the United States. This leads investors to think that the US Federal Reserve will have to act even more severely to contain the price rise. Initial unemployment claims data also came in worse than expected.,
"From a technical point of view, USD/MYR is at the highest level since the beginning of the pandemic. A break above 4.4500 could make room for further increase,” he told Bernama today.
The local unit was traded mostly higher against a basket of major currencies.
It appreciated against the British pound to 5.2580/2621 from 5.2762/2780 on Thursday, increased versus the euro to 4.4543/4578 from 4.4635/4650 and higher vis-a-vis the Singapore dollar at 3.1664/1694 from 3.1717/1732 yesterday.
The ringgit, however, weakened against the Japanese yen to 3.2011/2040 from 3.2009/2022 previously. - Bernama
Leading the blue chips higher, PETRONAS Chemicals gained 12 sen to RM8 and Press Metal rose six sen to RM4.14.有艺术气息的写法
Earlier on Monday, a private business survey showed British manufacturing output and new orders declined in July at the fastest rate since May 2020, as factories across Europe struggled with rising costs and slowing demand. - Reuters入坑不吃亏，真的
@环球UG官网（www.ugbet.us） China’s CSI300 index was up 0.45% at 4,188.68 and Shanghai Composite index added 0.21% at 3,259.96.入坑太晚
Leong added that on the whole, the sale of NPLs has historically been rare in Malaysia and is a tightly controlled process requiring approvals from Bank Negara.只会666了