Oddbean

Ringgit opens slightly higher ahead of US labour data release ========== The ringgit opened slightly higher against the US dollar as investors awaited the release of US labour data later in the day. The ringgit rose to 4.4920/4990 against the greenback from yesterday's close of 4.4950/5010. Market sentiment is expected to remain cautious, with traders closely monitoring high-frequency data such as Initial Jobless Claims to gauge the US Federal Reserve's next move. The US Dollar Index (DXY) was up by 0.2% to 103.179 points on Wednesday, while the two-year US treasury note yield fell one basis point to 3.96%. The ringgit is expected to maintain its narrow range bias for the day. It traded mostly lower against major currencies, falling against the Japanese yen and the euro, but gaining against the British pound. It also traded mixed against ASEAN currencies, sliding against the Singapore dollar, rising against the Indonesian rupiah, and firming against the Philippines' peso. The ringgit was lower against the Thai baht. #Ringgit #UsDollar #Investors #UsLabourData #MarketSentiment #Traders #UsFederalReserve #UsDollarIndex #Currencies #AseanCurrencies https://www.nst.com.my/business/economy/2024/08/1088293/ringgit-opens-slightly-higher-ahead-us-labour-data-release