# Ringgit closes lower amid upbeat US consumer sentiment | FMT

> The ringgit closed lower against the US dollar on May 29 at about 4.70 per dollar after US consumer confidence unexpectedly improved. Rising 10-year Treasury yields revived concern that US rates would stay high for longer, and the dollar index rose to 104.76.

- Date: 2024-05-29 · published 2024-05-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30537-ringgit-closes-lower-amid-upbeat-us-consumer-sentiment-fmt
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger dollar and higher US yields raise the cost of dollar-priced grain and meal imports for Malaysia and other emerging-market buyers, a modest headwind for feed costs.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-10-28 | [Ahead of US election, ringgit closes lower against US dollar amid cautious sentiment \| Malay Mail](https://feedsoft.ai/events/28137-ahead-of-us-election-ringgit-closes-lower-against-us-dollar-amid-cautious.md) | +0.2% | +1.9% |
| DXY | 2018-11-13 | [Ringgit ends lower against US dollar \| FMT](https://feedsoft.ai/events/62311-ringgit-ends-lower-against-us-dollar-fmt.md) | -0.4% | -0.2% |
| DXY | 2023-10-13 | [US consumer sentiment sours; dollar aiding inflation fight \| Reuters](https://feedsoft.ai/events/33537-us-consumer-sentiment-sours-dollar-aiding-inflation-fight-reuters.md) | +0.5% | -0.9% |
| DXY | 2021-07-31 | [AUD/USD and NZD/USD Fundamental Daily Forecast – Rally Fades on Lower Investor Sentiment, Upbeat US Data](https://feedsoft.ai/events/46318-aud-usd-and-nzd-usd-fundamental-daily-forecast-rally-fades-on-lower-investor.md) | +0.6% | +0.6% |
| 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% |

## Sources

- freemalaysiatoday.com: https://www.freemalaysiatoday.com/category/business/2024/05/29/ringgit-closes-lower-amid-upbeat-us-consumer-sentiment

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