KL CHRONICLE: Oh Shit! Now Ringgit weakens past 4 to US$ #MalaysiaBaru #MalaysiaMemilih #MalaysiaTertipu

Monday, June 18, 2018

Oh Shit! Now Ringgit weakens past 4 to US$ #MalaysiaBaru #MalaysiaMemilih #MalaysiaTertipu


The ringgit plunged against the US dollar in late morning trade on Monday to 4.0015, which was the lowest since January this year.

At 11.40am, the local unit was down 0.31% to 3.0073 to the greenback.

AmBank Research said with trade war noises between the US and China poised to stay for a while, "we foresee global volatility in the near-terms". 



It expects the ringgit to trade between its support levels of 3.9699 and 3.9772 while its resistance is pegged at 3.9950 and 4.0068.

Meanwhile, Reuters reported from Tokyo that the dollar edged up towards a seven-month high on Monday as investors bet the United States and China would avoid a full-blown trade war, although tensions between the two slowed its gains.

The dollar index versus a basket of six major currencies crept up 0.1 percent to 94.862.

The index was close to 95.131, a peak scaled on Friday, thanks to the dollar soaring more than 1 percent last week after the U.S. Federal Reserve gave a hawkish signal on interest rates while the European Central Bank struck a dovish tone.

On top of last week's Fed, ECB and the Bank of Japan policy meetings, the currency markets also weighed a U.S.-North Korea summit and the renewed trade tensions between the world's two biggest economies.

The greenback navigated through those events, last of which was a decision by the United States on Friday to enact tariffs on $50 billion in Chinese goods. Soon afterward, China's official Xinhua news agency said Beijing would impose 25 percent tariffs on 659 U.S. products, ranging from soybeans and autos to seafood.

"The reaction by currencies to the trade developments has been mostly limited as the U.S. measure and China's response were in line with expectations," said Yukio Ishizuki, senior currency strategist at Daiwa Securities in Tokyo.

"A further escalation of U.S.-China trade tensions is of course a risk scenario. But the current tariffs, even if implemented, will hardly dent the global economy and the market also has to ponder about a scenario in which the two countries try to defuse tensions."

The dollar was down 0.2 percent at 110.44 yen, weighed down as risk appetites cooled on the back of falling Tokyo shares.

The Nikkei fell on Monday with sentiment hurt by a combination of trade concerns and a strong earthquake that hit the western Japanese city of Osaka.

Even when natural disasters and regional tensions hit close to home, the yen is often viewed as a safe haven currency, partly because of the resilience provided by Japan's current account surplus.

Despite the slip, the dollar managed to stay in reach of a three-week high of 110.905 yen brushed on Friday.

The euro fell 0.15 percent to $1.1592, extending losses after sliding 1.3 percent the previous week after the ECB signalled it will keep interest rates at record lows well into next year.

Commodity-linked currencies sagged on the back of sliding crude oil prices.

The Canadian dollar traded at C$1.3184 per dollar after retreating to a one-year low of C$1.3210 on Friday.

The Australian dollar was little changed at $0.7442 after plumbing a five-week low of $0.7426 and the New Zealand dollar lost 0.25 percent to $0.6928.

Brent crude futures fell to a six-week low of $72.45 a barrel on Monday in the wake of reports that top suppliers Saudi Arabia and Russia would likely increase production at the June 22 OPEC meeting in Vienna.

The OPEC meeting "will be one of this week's key events due to the way oil prices shape economic and price views and thus impact yields and currencies," said Koji Fukaya, president at FPG Securities in Tokyo.

Read more at https://www.thestar.com.my/business/business-news/2018/06/18/ringgit-weakens-past-4-to-us$/#SPe3FJi0tcqLz5Mm.99

14 comments:

Anonymous said...

Siapa yang yang banyak ada simpanan dalam bank ke ASB ke elok keluarkan saja.... Lebih baik simpan dalam bath thailand atau rupee Indonesia pun OK, Rupanya RM lebih haprak dp rupee rupee dan bath. Seperti ko bagi bunga kepada beruk itulah jadinya

Tuan Admin:
boleh tolong cek dah berapa billion reserve BNM sudah mereka gunakan untuk menstabilkan RM.


Dark Justice said...

Minta kera jaan tun tambat RM3.50 per USD mcm tahun 97/98 klw berani

Anonymous said...

MAMAK MATDEY ....MELAYU BANGSATTTTTTTTT!!!!!!!!!!!!!

Anonymous said...

MAMAK MATDEY ....MELAYU BANGSATTTTTTTTT!!!!!!!!!!!!!

Anonymous said...

MAMAK MATDEY ....MELAYU BANGSATTTTTTTTT!!!!!!!!!!!!!

Anonymous said...

MALAPETAKA APAKAH YINI?
APA YG KERA JAAN PAKARTURN NAK BUAT SEKARANG?
RAKYAT MAKIN GELISAH & TERHIMPIT DGN SEGALA MACAM MUSIBAH & MUSIBAT POLITIK...!!!!

INILAH AKIBATNYA BILA BERUKERA DAPAT BUNGA!!!!

Anonymous said...

Haha ada gak benda yg turun selain rega tomato. Bersediala dgn harga baru utk brg brg import yg pakai usd. Masa tu uneducated kemam jer la. Jgn komplain komplain lagi

Anonymous said...

Anti-Wayang

The Mat Salleh pulled another RM238.85 million out of our share market today – Monday 18 June 2018.

Due to the falls in our Bursa where it is now the 28 consecutive days of foreigners pulling out money from our shares since GE14, the top 10 companies that EPF invests in has lost a combined RM55 billion in value.

These 10 companies alone out of the dozens invested by EPF has already cost EPF RM6.1 billion in losses as reported by The Edge today:
http://www.theedgemarkets.com/article/capital-lead-story-epf-lost-rm6-bil-investment-value-10-plcs-postelection



These companies are Cahaya Mata Sarawak, MRCB, IJM, Gamuda, Maybank, CIMB, Axiata, Telekom and TNB.

Remember that this is just 10 companies and our Bursa has a total of 894 listed companies and you can imagine the amount of devastation that can easily be RM200 billion in value destroyed.

So, EPF has easily lost tens of billions. What about Khazanah, ASN/ASB, Tabung Haji, KWAP, Amanahraya and the rest?

What about the ordinary folks who invested directly in the stock market or those who bought unit trusts?

This is what happens when our new PH government continues with politicking and political attacks with their populist policies, political statements as well as lying about our national debt.

They politicking to continue attacking Najib/BN and we are the ones suffering.

It has come to a stage that whenever our PM, Finance Minister and our Economic Minister opens their mouth, our financial markets fall and people lose money.

And they have not stopped. Our new Economics Minister Azmin Ali just told the UK’s financial times that Malaysia is a bankrupt country!

Yes, our minister officially in charge of our economy just told one of the most reputable financial media in the world that his country is bankrupt.

Which foreigner in their right minds would still want to keep their money here in Malaysia or put in money here?



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Anonymous said...

Dear all netizens. this Blog is provided by a cybertrooper. They get paid by UMNO to twist facts and give negative and racist comments to inspire hatreds. please don't comment to encourage these kind of websites. please pass on this message

Anonymous said...

selepas tomato turun harga kini ringgit pula menyusul,, alhamdulillahhh.

Anonymous said...

Dear all netizens. this Blog is provided by a cybertrooper. They get paid by UMNO to twist facts and give negative and racist comments to inspire hatreds. please don't comment to encourage these kind of websites. please pass on this message

Anonymous said...

Hahaha..padan muka ko. Bangsat

Anonymous said...

Dear all netizens. this Blog is provided by a cybertrooper. They get paid by UMNO to twist facts and give negative and racist comments to inspire hatred. please don't comment to encourage these kind of websites. please pass on this message

Anonymous said...

MAMAK MATDEY AL KUTTY ....BARUA DAPIGS...MELAYU BANGSATTTTTTTTT!!!!!!!!!!!!!

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