# Ahead of US election, ringgit closes lower against US dollar amid cautious sentiment | Malay Mail

> The ringgit closed lower against the US dollar at 4.3605/3640, with cautious sentiment ahead of the US presidential election. Analysts expect the greenback to stay firm as the Federal Reserve moves slowly on rate cuts.

- Date: 2024-10-28 · published 2024-10-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/28137-ahead-of-us-election-ringgit-closes-lower-against-us-dollar-amid-cautious
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A soft ringgit with a firm dollar tends to support palm oil's competitiveness for buyers but signals broader dollar strength that can cap dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-10-31 | [Ringgit ends lower against US dollar \| Malay Mail](https://feedsoft.ai/events/39386-ringgit-ends-lower-against-us-dollar-malay-mail.md) | -0.1% | -2.8% |
| DXY | 2022-06-01 | [Ringgit opens lower against US dollar amid feats of accelerating inflation \| Malay Mail](https://feedsoft.ai/events/41235-ringgit-opens-lower-against-us-dollar-amid-feats-of-accelerating-inflation.md) | +0.3% | +2.4% |
| DXY | 2023-08-23 | [Ringgit ends lower against US dollar on economic uncertainties \| Malay Mail](https://feedsoft.ai/events/34848-ringgit-ends-lower-against-us-dollar-on-economic-uncertainties-malay-mail.md) | -0.1% | +0.5% |
| DXY | 2021-03-30 | [Ringgit ends lower on firmer US dollar \| Malay Mail](https://feedsoft.ai/events/48386-ringgit-ends-lower-on-firmer-us-dollar-malay-mail.md) | -0.5% | -1.9% |
| DXY | 2024-05-29 | [Ringgit closes lower amid upbeat US consumer sentiment \| FMT](https://feedsoft.ai/events/30537-ringgit-closes-lower-amid-upbeat-us-consumer-sentiment-fmt.md) | +1.1% | +2.3% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2024/10/28/ahead-of-us-election-ringgit-closes-lower-against-us-dollar-amid-cautious-sentiment/155132

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.