[ WASHINGTON: U.S. inflation rose moderately in March, but that is unlikely to change financial markets’ expectations that the Federal Reserve will hold off cutting interest rates until September. The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday. Data for February was unrevised … Read more
[ KUALA LUMPUR: The ringgit was lower against the greenback in early trade on Friday despite the continuing downward bias of the US dollar after discouraging gross domestic (GDP) print ahead of the Fed’s release of the inflation gauge for March, tonight. At 9 am, the ringgit eased slightly to 4.7770/7825 against the greenback from … Read more
[ KUALA LUMPUR: The ringgit extended its downward trend as the US dollar remained elevated while market players await the release of the United States’ first-quarter (1Q) gross domestic product (GDP) data later today, as well as the March Personal Consumption Expenditures (PCE) data tomorrow. At 9 am, the ringgit eased to 4.7825/7870 against the … Read more
[ THE S&P 500 and the Nasdaq were set to open higher on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support. Tesla outpaced megacap stocks with an 11.5% jump in premarket trading after the electric-vehicle maker eased some worries about growth … Read more
[ KUALA LUMPUR: The ringgit lost ground slightly against the US dollar as the market awaits more macro data releases this week, including the US advance gross domestic product (GDP) for the first quarter and March Personal Consumption Expenditures (PCE) data to gauge the future interest rate outlook. The S&P Flash US Services and Manufacturing … Read more
[ WASHINGTON: U.S. prices increased moderately in February and the cost of services outside housing slowed considerably, keeping a June interest rate cut from the Federal Reserve on the table. The personal consumption expenditures (PCE) price index rose 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday. Data for January was … Read more
[ KUALA LUMPUR: The ringgit retreated to close lower against the US dollar on Wednesday, snapping two consecutive days of gains on caution ahead of US inflation data. The US Personal Consumption Expenditures (PCE) price index will be out on Friday, which will further provide clarity on the interest rate outlook in the United States. … Read more
[ NEW YORK: Oil prices rose 2% on Friday and posted weekly gains as traders awaited an Opec+ decision on supply agreements for the second quarter while also weighing fresh US, European and Chinese economic data. Brent futures for May settled US$1.64 higher, or 2%, at US$83.55 a barrel. The April Brent futures contract expired … Read more
[ KUALA LUMPUR: The ringgit was slightly lower against the US dollar at Friday’s closing, although sentiment towards the local currency remains favourable, as Bank Negara Malaysia (BNM) has said firmly that the ringgit is undervalued. At 6 pm, the ringgit fell to 4.7440/7480 against the greenback compared with Thursday’s close of 4.7400/7455. Bank Muamalat … Read more
