KUALA LUMPUR, Sept 30 - The ringgit opened lower against major currencies, including the US dollar, today as weaker US consumer data weighed on investor sentiment and reduced risk appetite in the foreign exchange market.
At 8.02 am, the ringgit edged down to 4.0795/0850 against the greenback from yesterday’s close of 4.0790/0850.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam said the Conference Board’s Consumer Confidence Index fell to 81.9 points in September, its lowest level since April 2014.
“Based on the survey responses, most Americans related the high cost of goods and services and oil and gas prices, in particular, to such pessimism,” he told Bernama.
He added that apart from consumer confidence, the Job Openings and Labour Turnover Survey (JOLTS) also came in lower in August at 7.079 million, below the consensus estimate of 7.23 million.
Mohd Afzanizam said the trend had been declining since April this year.
However, the US Dollar Index (DXY) rose 0.17 per cent to 101.372 points as US Federal Reserve officials remained hawkish on monetary policy.
At the opening, the ringgit traded lower against a basket of major currencies.
It fell against the euro to 4.6257/6320 from 4.6235/6303 at yesterday’s close, weakened against the British pound to 5.3960/4032 from 5.3937/4016 and edged down versus the Japanese yen to 2.5921/5958 from 2.5869/5909.
Against ASEAN currencies, the local note weakened versus the Singapore dollar to 3.1921/1969 from 3.1885/1934 at yesterday’s close and eased against the Thai baht to 12.1540/1759 from 12.1402/1632 previously.
The ringgit was little changed against the Indonesian rupiah at 226.9/227.2 from 226.8/227.2 and was unchanged against the Philippine peso at 6.52/6.53.
