Ringgit opens slightly higher against greenback ahead of US labour market data
The ringgit opened slightly higher on Wednesday ahead of the US labour market data this week, which will be an important input for the Federal Open Market Committee (FOMC) members when they meet on Sept 16 and 17.
KUALA LUMPUR: The ringgit opened slightly higher on Wednesday ahead of the US labour market data this week, which will be an important input for the Federal Open Market Committee (FOMC) members when they meet on Sept 16 and 17.
At 8am, the local note rose to 4.2255/2370 from yesterday's close of 4.2270/2350.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the odds for a 25 basis points cut are still at an elevated level, but market participants are still edgy given the mixed signals from data points and Federal Reserve officials.
"Tonight, the Job Opening and Labour Turnover Survey (JOLTS) will be published, with consensus estimates pegged at 7.39 million job openings in July compared with 7.437 million in June," he told Bernama.
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