tags - Sinar Daily

The ringgit rose against the US dollar in the early session today as the United States Federal Reserve officials continued their hawkish stance, favouring another 25 to 75 basis points interest rate hike in the near term.

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.

Kinabatangan MP Datuk Seri Bung Moktar Radin shared a screenshot of the fare for Kota Kinabalu to Tawau - Datuk Seri Bung Moktar Radin official Facebook page

Director of the African Department at the International Monetary Fund (IMF), Abebe Aemro Selassie,takes questions at a press briefing during the World Bank Group and IMF Spring Meetings in Washington, DC, on April 14. - Pic: AFP

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

For illustration purposes only - Photo: BERNAMA

Anthony Loke (left) with Prasarana CEO Mohd Azharuddin Mat Sah at Menara UOA, Bangsar.

Interest for beaten down counters is set to boost Bursa Malaysia’s performance with the main index expected to trade within the 1,420-1,440 level next week, said Rakuten Trade Sdn Bhd.

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.

Economists are projecting a better outlook for the ringgit in the second quarter (Q2) of 2023 amid the country's relatively resilient economic outlook.