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An extension would facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November.

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The ringgit opened marginally higher against the US dollar in early trade on Monday amid cautious sentiment, as traders awaited clarity on a possible extension of the trade truce between the United States and China, said an analyst.

At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday’s close of 4.2275/2345.

Oil prices rose on Monday after the United States reached a trade deal with the European Union and may extend a tariff pause with China, reducing concerns that potentially higher levies would limit economic activity and impact fuel demand.

The euro gained on Monday following the announcement of a framework trade agreement between the United States and the European Union, the latest in a flurry of deals to avert a global trade war.

Bursa Malaysia rebounded from last week’s losses to open higher on Monday, taking its cue from overnight gains on Wall Street.