KUALA LUMPUR: The ringgit eased against the US dollar in the early trading session today as investors’ demand shifted towards the greenback, following the release of stronger-than-expected factory data in the United States.
At 9.10am, the local note was quoted at 4.1850/1890 versus the greenback from 4.1830/1870 recorded at yesterday’s close.
In a note, AmBank Research said the dollar rose due to stronger-than-expected October Markit Manufacturing Purchasing Managers’ Index preliminary estimate rising to 51.5 points from 51.1 points in September and beating market expectation of 50.7.
Commenting on the local note against the US dollar, the research house expects it to fluctuate within the support levels of 4.1752 and 4.1800 with resistance pegged at 4.1902 and 4.1940.
Meanwhile, the local note was traded mixed against other major currencies.
The ringgit fell against the Singapore dollar to 3.0691/0725 from 3.0676/0714 and declined against the yen to 3.8508/8555 from 3.8482/8533.
It rose against the British pound to 5.3752/3812 from 5.3890/3945 and improved against the euro to 4.6458/6515 from 4.6553/6614. — Bernama
source https://www.thesundaily.my/business/ringgit-eases-in-early-trade-on-strong-us-factory-data-MN1528482
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