Forex
Ringgit Gains Ahead of Key US Economic Data Release
The Malaysian ringgit opened slightly higher against the US dollar on Monday as investors await key economic data from the United States. The local currency edged up to 4.0805/0900 against the greenback, a small increase from last Friday's close of 4.0835/0875.
According to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid, the US Institute for Supply Management (ISM) Manufacturing PMI for July will be released tonight. The consensus estimate stands at 54.0, higher than June's reading of 53.3.