# Weak US Data Could Propel MYR To Break 4.70

> Kenanga said weaker-than-expected US retail sales, up 0.1% month on month against a 0.3% consensus, could help the ringgit break below 4.70 per dollar. The ringgit closed at 4.71 on June 21, held back by a weak Bank of England and concerns over the French election that strengthened the dollar index.

- Date: 2024-06-22 · published 2024-06-22T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30070-weak-us-data-could-propel-myr-to-break-4-70
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The analysis points to a possible stronger ringgit, which would lower the local cost of palm oil exports and imported feed inputs.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2024/06/22/weak-us-data-could-propel-myr-to-break-4-70/

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