The ringgit will likely trade higher versus the US dollar this week

forex currency trading tips in malaysia

KUALA LUMPUR : The ringgit will probably exchange higher versus the US dollar this week, helped by Bank Negara’s measures to bolster the nearby cash, an investigator said.

The national bank as of late reported that exporters can just hold up to 25% of fare continues in remote cash, in order to support more residential exchange the ringgit.

Under the new measures, 75% of all new fare continues should be changed over into ringgit.

“Most dealers welcome the late measures to reinforce the ringgit,” the examiner said, including that the ringgit is relied upon to exchange between the 4.42 and 4.35 level.

In the mean time, Affin Hwang Investment Bank VP/retail look into head Datuk Dr Nazri Khan Adam Khan said the ringgit will be marginally lower in the midst of a solid dollar on the worldwide market.

“The greenback is on the uptrend taking after the European Central Bank’s choice to amplify its bond purchasing by nine months until end-2017,” he told Bernama.

Meanwhile, the ringgit will likewise exchange a wary mode in front of the US Federal Reserve’s financing cost declaration.

Our recommendation for KLSE INTRADAY investors.

KLSE INTRADAY SIGNALS : BUY EZION AT 0.400 TARGET 0.414, 0.428 SL 0.385

KLSE INTRADAY SIGNALS  : BUY COGENT AT 0.640 TARGET 0.662, 0.684 SL 0.614 

Latest Hot Stocks 

  1. ACROMEC
  2. SEMBCORP MARINE
  3. KEPPEL
  4. GREAT EASTERN
  5. BOUSTEAD

Leave a Reply

Your email address will not be published. Required fields are marked *