Ongoing tension in the Middle East continues to weigh on market sentiments, says analyst.
KUALA LUMPUR: The ringgit extended its downtrend to end lower against the US dollar today as the greenback continued to strengthen amid geopolitical worries in the Middle East, an economist said.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ongoing tension in the Middle East continued to weigh on market sentiments, providing support to the greenback. In addition, he said crude oil prices fluctuated but remained above US$90 per barrel as the situation in Gaza is expected to get more intense.
“This has led to concerns over crude oil prices in the near-term and how major central banks would react to such potential inflationary pressures,” he told Bernama.At 6pm, the local currency fell to 4.7340/4.7380 against the greenback from Friday’s close of 4.7260/4.7305.It appreciated vis-à-vis the British pound to 5.7494/5.7543 from 5.7615/5.7670 at Friday’s close but went down against the euro to 4.9858/4.9901 from 4.9760/4.9807 and eased against the yen to 3.1668/3.1697 from 3.1582/3.
The local unit eased against the Philippine peso to 8.33/8.34 versus 8.32/8.33 last Friday but inched up against the Indonesian rupiah to 301.0/301.5 from 301.3/301.7 previously.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
US boosts Middle East firepower in case Israel-Hamas war spreadsWashington also hopes the weapons would deter Iran from getting involved.
Leggi di più »
Global markets watch for fallout as Middle East tensions riseWASHINGTON, Oct 16 — The Israeli-Hamas war has sharpened focus on rising geopolitical risks for financial markets, as investors wait to see if the conflict draws in other...
Leggi di più »
Blinken asks China to use its ‘influence’ for calm in Middle EastBeijing has a warm relationship with Iran, which supports both Hamas and Hezbollah.
Leggi di più »
Chinese envoy to push peace talks in visit to Middle East next weekBeijing’s refusal to condemn Hamas in official statements has led to criticism from some Western officials.
Leggi di più »
Ripple effect seen on markets globally from Middle East conflictWASHINGTON, Oct 15 — Economists and market strategists are anticipating further ripple effects globally from the Middle East conflict, watching to see if the situation draws in...
Leggi di più »
Israel-Hamas war: China’s Middle East envoy tells Palestinian official that ceasefire is ‘top priority’IPOH: Stern action will be taken against premises owners who rent out “grave-like” rooms, says the Local Government Development Ministry.
Leggi di più »