# Q2 GDP contraction pulls ringgit lower against US dollar | Malay Mail

> Malaysia's second-quarter GDP contracted 17.1%, its first double-digit contraction since 1998, after a national lockdown. The ringgit closed weaker against the dollar at about 4.19 as traders adopted a defensive stance ahead of US-China trade talks.

- Date: 2020-08-14 · published 2020-08-14T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/51879-q2-gdp-contraction-pulls-ringgit-lower-against-us-dollar-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Weaker domestic demand and a softer ringgit raise the dollar cost of imported feed inputs for Malaysian buyers, while a weak economy may encourage further rate cuts.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2020/08/14/q2-gdp-contraction-pulls-ringgit-lower-against-us-dollar/1894003

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