# Ringgit likely to see cautious trading next week

> Analysts expect the ringgit to trade cautiously next week as investors await major economic data, including China's Q4 GDP and UK and EU inflation. They note Red Sea conflict has cut traffic through the canal by up to 20 percent year on year, forcing costly Cape of Good Hope rerouting.

- Date: 2024-01-14 · published 2024-01-14T12:00:00.000Z
- Category: logistics · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32379-ringgit-likely-to-see-cautious-trading-next-week
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Rerouting around the Cape raises shipping costs and transit times for freight, which can pressure feed commodity delivered prices and freight rates.

## Read by commodity

- USDMYR: neutral
- OCEANFRT: bullish ▲

## Sources

- nst.com.my: https://www.nst.com.my/business/economy/2024/01/1001065/ringgit-likely-see-cautious-trading-next-week

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