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The Star

Ringgit opens higher at 4.0705/0805 as weak US June payrolls temper Fed hike expectations

AI Market Summary
Weaker-than-expected US June nonfarm payrolls and downward revisions to prior months reinforced expectations of a more cautious Fed path, weighing on the US dollar and supporting higher-beta and emerging-market FX. Malaysia's ringgit strengthened versus USD and a basket of majors and regional peers, reflecting softer US rate-hike expectations and reduced USD carry appeal in the near term.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+2.77%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
The Malaysian ringgit strengthened in early trade on Friday, rising to 4.0705/0805 against the US dollar from the previous close. The move followed a sharp downside surprise in US June nonfarm payrolls, which rose by 57,000 versus a 114,000 consensus, alongside downward revisions to April and May. The ringgit also gained against the British pound, Japanese yen, euro, Philippine peso, Indonesian rupiah, Thai baht and Singapore dollar.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
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