tags - Sinar Daily

The ringgit will likely trade in a cautious mode next week with investors eyeing updates on the global economic performance.

Hong Leong Investment Bank Research said in its recent report that it expects the ringgit to have an overall depreciation trend in the second half with an average of USD-MYR 4.67 to reach a 2023 average of 4.56 and year-end target of 4.40.Hong Leong Investment Bank Research said in its recent report that it expects the ringgit to have an overall depreciation trend in the second half with an average of USD-MYR 4.67 to reach a 2023 average of 4.56 and year-end target of 4.40. Photo for illustrative purposes only - 123RF

Photo for illustrative purposes.

The most active gold contract for August delivery fell US$4.30, or 0.22 per cent, to close at US$1,917.90 per ounce. Photo for illustrative purposes only - 123RF

Two indicators that have led to the prediction, which are the US Conference Board’s leading economic index and the shape of the yield curve in the US Treasury. - AFP PIX

Photo for illustration purposes only - FILE PIX

Photo for illustration purposes only - FILE PIX

Picture for illustrative for purposes - FILE PIX

The ringgit continued to open lower versus the the US dollar today on subdued demand despite the US Federal Reserve (Fed) leaving its benchmark rate at 5.25 per cent during the Federal Open Market Committee meeting last night.

Photo for illustrative purpose only. - FILE PIC