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Analysts expect the ringgit to trade flat against the dollar next week, citing stronger US growth in the second quarter and expected gradual Federal Reserve rate hikes. US GDP grew 4.1 per cent, the fastest pace since 2014, and FXTM's Jameel Ahmad expects the currency to stay below 4.05.
Strong US growth and expected Fed tightening support the dollar against the ringgit, which keeps imported feed costs elevated for Malaysian buyers.
malaysiagazette.comBernamaJul 29, 2018Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
