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Amid a short working week with the Labour Day break on Monday, the dollar weakened by 0.51% to 98.41 due to global risk-on sentiment as Washington and Beijing agreed to hold high-level talks in October, raising hopes of a de-escalation in trade tensions that has battered global economic growth.
Malaysia’s economy estimated at RM2.316 trillion. Federal Govt Budget RM297.02bil
THE US dollar depreciated by 0.71% to 97.607 following a confluence of factors.
THE dollar appreciated by 0.36% to 97.631 following a confluence of factors such as the dovish ECB meeting; higher demand for safe-haven assets as optimism in the US-China trade talks was offset by another round of Brexit saga; and better-than-expected flash PMI data with the October Markit manufacturing PMI preliminary estimate rising to 51.5 points from 51.1 points in September and beating market expectation of 50.7.
PETALING JAYA: The appetite for non-rated bonds, which was once thought to be “inferior” to their rated counterparts, is fast gaining traction in Malaysia.
Global Forex Market
PETALING JAYA: Communication and technology services company Green Packet Bhd has taken its mobile payment solution to Universiti Utara Malaysia (UUM) to enable the latter’s 20,000 population to go cashless.
THE dollar witnessed a sell-off mid-week after the Fed turned rather dovish during its FOMC meeting — tweaking its dot plot projection to zero hike for 2019 from two hikes back in December 2018, signalling the end of quantitative tightening (QT).
THE US dollar softened 0.44% to 96.8 largely owing to an improving risk appetite following the UK averting a “no-deal” exit and progressive trade talks. The market cheered after the Trump-Xi summit is now postponed to next month, signalling strong commitments to seal a deal by both parties.
AMID a short working week due to the Thanksgiving holiday, the US dollar closed higher by 0.31% to 96.712 following a stronger appetite for safe-haven assets after the rout in the stock market that saw Dow Jones and S&P 500 tumbling 2.2% and 3.2%, respectively, amid a nosedive in crude oil price.