KUALA LUMPUR: The ringgit ended flat in opposition to the US greenback as buyers and market individuals remained cautious, awaiting the discharge of the US Personal Consumption Expenditures (PCE) worth index tonight.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid mentioned the ringgit traded inside a slim vary all through the day.
“The PCE worth index measures the common change in costs of products and companies bought by US households.
“It is a key indicator of inflation, intently monitored by the US Federal Reserve to information the financial coverage,” he mentioned.
He acknowledged that monetary analysts, economists, and market individuals have reached a consensus predicting that the PCE Price Index will lower from 2.7% to 2.6%.
At 6pm, the ringgit traded at 4.7160/4.7190 in opposition to the buck, unchanged from yesterday’s shut.
Meanwhile, the ringgit principally closed marginally larger in opposition to a basket of main currencies.
The ringgit appreciated in opposition to the Japanese yen to 2.9345/2.9365 from 2.9383/2.9404 and gained in opposition to the British pound to five.9639/5.9676 from 5.9643/5.9681 however declined in opposition to the euro to five.0494/5.0526 from 5.0452/5.0484 at yesterday’s shut.
The ringgit was decrease in comparison with its Asean friends.
The ringgit slid in opposition to the Singapore greenback to three.4792/3.4816 from 3.4761/3.4788, weakened in opposition to the Thai baht to 12.8508/12.8646 from 12.7874/12.8015, dropped in opposition to the Indonesian rupiah to 287.9/288.3 from 287.4/287.7 and eased in opposition to the Philippine peso to eight.05/8.05 from 8.03/8.04, beforehand.
