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Why RM strengthening recently?
springtreeinvestment
Publish date: Tue, 04 Jun 2019, 10:21 PM
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RM appreciate against USD to 4.1745 as at 4 June 2019.
Factor that contribute to strengthening of ringgit Malaysia as below:
1. The economy expanded by 4.5% at in the first quarter of March 31, 2019 (Q1 2019), which was slightly above economists' forecast of 4.3%, underpinned by services and manufacturing.
2. Malaysia exports grew by 1.1% year-on-year in April after two consecutive months of declines in February and March.
3. The declining of USD dollar index also cause major currency across Asia appreciate such as Ringgit, Singapore dollar and Taiwan dollar..
4. If the ringgit continue strengthening , sector that will be benefit such as auto, poultry, media, consumer, airline.
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Forecast of Malaysia business performance for the 2nd quarter 2019
Created by springtreeinvestment | Jun 05, 2019
Discussions
Be the first to like this. Showing 19 of 19 comments
The recent tech war made US Fed to almost confirm 3 rate cuts in the coming 6 months which is good for stock markets but bad for USD. Trump has been asking Fed to cut rates and he made it this time. Trump triumphs.
Ringgit did not strengthen. USD weakens.
2019-06-05 09:40
It is better for FED to keep talking potential of interest rate reduction, they don't really have to put into real action. A reduction of interest rate would also mean that the economy growth in deep shit.
2019-06-05 09:43
I think what the author is saying is the Ringgit did not appreciate, it is the US$ that is weakening.
Nevertheless, I do not see the Ringgit ever breaching the exchange rate of RM4 anymore. We are really stuck in the middle income trap. Government of the day said basically "we will continually rely on foreign labour" just like the previous government.
There is no creative invention from Malaysia, we are just user of other people inventions. This, in essence, is the trade war between China and US.
Selamat Hari Raya to all Muslim bloggers / investors and happy holiday to the rest.
2019-06-05 09:45
62 years already still racist policy. Don't expect anymore changes after changing a new gov.
2019-06-05 11:18
The new government looks like UMNO 2.0. Don't expect too much.
The education minister confirms this. (from the way he talks and is still ignorant what he conveyed was wrong and insisted that he was right)
2019-06-05 11:31
To strengthen the country is not a one day journey some more we are 10 years behind...
2019-06-05 11:33
Yes, lower your expectation, hope for the best from the new government. That's all we can do.
2019-06-05 11:35
RM4.2 is psychology resistant..if 4.2 is broke then RM will be detrimental...
2019-06-05 11:46
From technical point of view, yes. Just like US Fed stepped in yesterday just before the US market indices reaching the previous support line. If it broke the support line yesterday, markets could crash.
2019-06-05 12:11
It’s merely a myth in expecting PH government to make a radical change in policy from racism to meritism. It takes decades to shape the mentality through a proper formal education and public medias. Malaysia may encounter political instability if radical change is implemented in a hassle manner. Our KLCI might drop below 1000 and RM plunging to above 5 against USD.
2019-06-05 12:24
If Malaysia GDP can growth 0.1% consistently every quarter, i think ringgit go back 4.00 level is not an issue in between 1 or 2 years.
2019-06-05 12:39
Everyone knows that changes must come through education and will take decades. However, education has always been manipulated since independence. Today is even worse, you know what I mean, so how to have chance for ringgit to appreciate given our ever deteriorating education level.
2019-06-06 13:24
Heavenly PUNTER UBS Shanghai Future Analyst
keep driving away the talents lah how to strengthen give 100 years also the same
2019-06-06 21:39
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BODOH! want to talk about RM strengthening, talk about it when US$1=RM3.80 or better!
it's like Malaysia play soccer against Brazil, then Malaysia down 20-0 to Brazil, then suddenly score 1 goal against Brazil to make it 20-1, then brag about how great our Malaysia soccer is. WTF!
2019-06-04 23:05