tags - Sinar Daily

The ringgit snapped its three-day losing streak to open higher against the US dollar in the early session today as the greenback softened following a lower-than-expected US April CPI data released last night.

File pix

BNM says the balance of risk to the inflation outlook is tilted to the upside and remained highly subject to any changes to domestic policy, including subsidies and price controls, financial market developments, and global commodity prices.

The ringgit opened lower against the US dollar today, weighed by a stronger greenback on renewed interest for safe haven currencies, an analyst said.

Bursa Malaysia will see a shortened trading week due to the Raya celebrations

Bursa Malaysia opened lower today due to the possibility of yet another interest rate hike by the United States (US) Federal Reserve during the next Federal Open Market Committee (FOMC) meeting in early May, said an analyst.

The ringgit opened higher against a weaker US dollar on Thursday, following the release of the United States (US) inflation data, said an analyst.

The ringgit is likely to trade on a bullish bias next week, below the RM4.40 level within the 4.3925-4.4175 range against the US dollar, said an analyst.

Kenanga Research foresees that Bank Negara Malaysia has reached the end of its monetary tightening cycle and will keep the OPR unchanged at 2.75 per cent for the rest of the year.

Securities Commission (SC) chairman Datuk Seri Dr Awang Adek Hussin said, in fact, the total funds raised of RM179.4 billion is the highest ever, led by a record amount of corporate bond and sukuk issuances, while exchange-traded derivatives also registered a record volume of 18.8 million lots traded.