# Ringgit continues downtrend against greenback ahead of US inflation report | Malay Mail

> The ringgit fell against the dollar on April 11 and extended its downtrend ahead of the US consumer price index release. Analysts expected the data to strengthen the case for another Federal Reserve rate hike in May.

- Date: 2023-04-11 · published 2023-04-11T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/36681-ringgit-continues-downtrend-against-greenback-ahead-of-us-inflation-report
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of further Fed tightening support the dollar and raise the local cost of dollar-priced feed imports. The effect is routine currency pressure rather than a supply shock.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-07-29 | [Ringgit continues slide against greenback \| Malay Mail](https://feedsoft.ai/events/46326-ringgit-continues-slide-against-greenback-malay-mail.md) | -0.3% | +0.4% |
| 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 | 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 | 2022-10-28 | [Ringgit extends downtrend vs dollar ahead of US fed decision on interest rates next week \| Malay Mail](https://feedsoft.ai/events/39383-ringgit-extends-downtrend-vs-dollar-ahead-of-us-fed-decision-on-interest-rates.md) | +1.2% | -2.4% |
| DXY | 2023-09-19 | [Ringgit extends downtrend vs dollar ahead of US Federal Open Market Committee meeting \| Malay Mail](https://feedsoft.ai/events/34369-ringgit-extends-downtrend-vs-dollar-ahead-of-us-federal-open-market-committee.md) | +0.8% | +1.6% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2023/04/11/ringgit-continues-downtrend-against-greenback-ahead-of-us-inflation-report/64312

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