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KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today amidst cautious sentiment over the global market situation, with investors on the lookout for economic data to be released soon, a dealer said.
Thursday, 27 May 2021 09:47 AM MYT
The local note was traded mostly higher against a basket of major currencies. Picture by Hari Anggara
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KUALA LUMPUR, May 27 The ringgit opened slightly lower against the US dollar today amidst cautious sentiment over the global market situation, with investors on the lookout for economic data to be released soon, a dealer said.
At 9.05am, the local currency eased to 4.1430/1490 against the greenback from Tuesday’s close of 4.1400/1450.
The dealer said that the market could experience some volatility with the expected release of three macro indicators from the United States (US), namely, Core Durable Goods Orders, first quarter gross domestic product (GDP) and Initial Jobless Claims.
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-0.13% from
1.73% (1.76%).
AUD/USD – The Aussie Battler slumped to 0.7730 at the close of New York trade, down 0.66% from Friday’s opening at 0.7772. The failure of the Australian Dollar to trade comfortably above strong upward resistance at 0.78 cents last week as well as overall USD strength pressurised the currency. The fall in Australia’s Composite Index offset the strong rise in Retail Sales driving the Battler to the lower end of its trading range.
EUR/USD – Speculative long Euro bets headed for cover following the contrast between the US (upbeat) and Eurozone (mixed) PMI reports. Germany’s Manufacturing PMI report underwhelmed with a 64.0 print, from a previous 66.2. The shared currency reversed lower after hitting an overnight peak at 1.2240, to 1.2180 at the New York close. Overall US Dollar strength is weakening the upside momentum in the Euro.