Latest news with #NonfarmPayrolls
The Star
5 hours ago
- Business
- The Star
Ringgit to trade firmer against US dollar next week, ahead of US labour data
KUALA LUMPUR: The ringgit is expected to trade firmer next week following the US labour market data, an analyst said. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors would pay attention on two key developments, namely the Nonfarm Payrolls (NFP) and the unemployment rate - and the expiry of the 90-day pause on US tariff implementation. "The labour market data will be pivotal in shaping expectations for the US Federal Reserve's policy direction, with greater emphasis likely to shift towards supporting maximum employment "With signs of a softening global and US economy emerging, investor sentiment is expected to remain cautious heading into the second half of 2025,' he told Bernama. Mohd Afzanizam said the US job market is showing moderation, with the monthly average NFP standing at 123,800 in the first five months of 2025, down from 179,600 in the same period last year. The unemployment rate had risen from 4.0 per cent in January to 4.2 per cent in March this year, he added. On the currency front, he said the ringgit has shown resilience this week, rebounding from RM4.2948 against the US dollar on June 23 to RM4.2327 on June 26, marking a 1.5 per cent appreciation. "With the US Dollar Index (DXY) on a softer trajectory, we anticipate the ringgit could trade firmer around RM4.22 to RM4.23 in the coming week,' he said. The ringgit ended the week higher against the greenback, closing at 4.2300/2355 on Thursday from 4.2505/2565 last Friday. The local note traded lower against a basket of major currencies. The ringgit depreciated vis-à-vis the Japanese yen to 2.9359/9399 from 2.9245/9289 at last Friday's close, shed against the British pound to 5.8141/8217 from 5.7356/7437 previously, and slid versus the euro to 4.9597/9661 from 4.9000/9069 at the end of last week. The ringgit also traded lower against ASEAN currencies. The local note dropped against the Singapore dollar to 3.3192/3240 on Thursday from 3.3088/3140 last Friday, and weakened versus the Thai baht to 13.0254/0488 from 12.9727/9969 last week. It fell versus the Indonesian rupiah to 260.9/261.4 on Thursday from 259.2/259.7 last Friday and was marginally lower against the Philippine peso at 7.47/7.49 compared to 7.43/7.45 previously. The market was closed on Friday for the Maal Hijrah public holiday. - Bernama
Malaysian Reserve
10 hours ago
- Business
- Malaysian Reserve
Ringgit to trade firmer against US dollar next week, ahead of US labour data
KUALA LUMPUR — The ringgit is expected to trade firmer next week following the US labour market data, an analyst said. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors would pay attention on two key developments, namely the Nonfarm Payrolls (NFP) and the unemployment rate — and the expiry of the 90-day pause on US tariff implementation. 'The labour market data will be pivotal in shaping expectations for the US Federal Reserve's policy direction, with greater emphasis likely to shift towards supporting maximum employment 'With signs of a softening global and US economy emerging, investor sentiment is expected to remain cautious heading into the second half of 2025,' he told Bernama. Mohd Afzanizam said the US job market is showing moderation, with the monthly average NFP standing at 123,800 in the first five months of 2025, down from 179,600 in the same period last year. The unemployment rate had risen from 4.0 per cent in January to 4.2 per cent in March this year, he added. On the currency front, he said the ringgit has shown resilience this week, rebounding from RM4.2948 against the US dollar on June 23 to RM4.2327 on June 26, marking a 1.5 per cent appreciation. 'With the US Dollar Index (DXY) on a softer trajectory, we anticipate the ringgit could trade firmer around RM4.22 to RM4.23 in the coming week,' he said. The ringgit ended the week higher against the greenback, closing at 4.2300/2355 on Thursday from 4.2505/2565 last Friday. The local note traded lower against a basket of major currencies. The ringgit depreciated vis-à-vis the Japanese yen to 2.9359/9399 from 2.9245/9289 at last Friday's close, shed against the British pound to 5.8141/8217 from 5.7356/7437 previously, and slid versus the euro to 4.9597/9661 from 4.9000/9069 at the end of last week. The ringgit also traded lower against ASEAN currencies. The local note dropped against the Singapore dollar to 3.3192/3240 on Thursday from 3.3088/3140 last Friday, and weakened versus the Thai baht to 13.0254/0488 from 12.9727/9969 last week. It fell versus the Indonesian rupiah to 260.9/261.4 on Thursday from 259.2/259.7 last Friday and was marginally lower against the Philippine peso at 7.47/7.49 compared to 7.43/7.45 previously. The market was closed on Friday for the Maal Hijrah public holiday. — BERNAMA
The Print
10-06-2025
- Business
- The Print
Silver soars Rs 1,000 to hit fresh peak of Rs 1.08 lakh/kg; gold falls Rs 280/10 g
Traders said silver prices surged due to strong investor demand, a weak dollar against major currencies, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors. On Saturday, the metal traded flat at Rs 1,07,100 per kg (inclusive of all taxes). Prior to that, the white metal on Friday had soared Rs 3,000 to hit another record high of Rs 1,07,100 per kilogram. New Delhi, Jun 9 (PTI) Silver prices soared Rs 1,000 to hit a fresh peak of Rs 1,08,100 per kilogram in the national capital on Monday, in line with firm global cues, according to the All India Sarafa Association. Gold of 99.9 per cent purity fell Rs 280 to Rs 97,780 per 10 grams (inclusive of all taxes) on Monday. The precious metal had declined by Rs 1,630 to Rs 98,060 per 10 grams on Saturday. The yellow metal of 99.5 per cent purity dipped Rs 250 to Rs 97,350 per 10 grams (inclusive of all taxes). It had depreciated by Rs 1,500 to Rs 97,600 per 10 grams in the previous market close. Globally, spot gold rose marginally to USD 3,312.84 per ounce. 'Gold consolidated in the lower end of its range on Monday amid mixed signals. The highly anticipated talks between the US and China have raised hopes that the two largest economies can make progress on various disputes, which could reduce demand for safe havens'. 'Additionally, the latest Nonfarm Payrolls report in the US was strong, prompting traders to re-evaluate their expectations regarding a potential easing of monetary policy by the Federal Reserve, which also serves as a headwind for the yellow metal,' Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said. Spot silver rose 0.9 per cent to USD 36.30 per ounce in the international market. 'Silver prices stood out with strong gains hitting a 13-year high on the global stage and achieving lifetime highs in the domestic markets,' Mehta Equities' Vice-President, Commodities Rahul Kalantri said. 'Improving sentiment from softer European inflation and trade optimism helped silver breach the USD 36 per ounce level, breaking out of a long-standing consolidation range,' Kalantri added. PTI HG HG BAL BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Mint
09-06-2025
- Business
- Mint
Silver price today: Precious metal hits new all-time high of ₹1.07 lakh per kilo; gold trades flat on MCX
New Delhi, Jun 9 (PTI) Silver prices soared ₹ 1,000 to hit a fresh peak of ₹ 1,08,100 per kilogram in the national capital on Monday, in line with firm global cues, according to the All India Sarafa Association. On Saturday, the metal traded flat at ₹ 1,07,100 per kg (inclusive of all taxes). Prior to that, the white metal on Friday had soared ₹ 3,000 to hit another record high of ₹ 1,07,100 per kilogram. Traders said silver prices surged due to strong investor demand, a weak dollar against major currencies, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors. Gold of 99.9 per cent purity fell ₹ 280 to ₹ 97,780 per 10 grams (inclusive of all taxes) on Monday. The precious metal had declined by ₹ 1,630 to ₹ 98,060 per 10 grams on Saturday. The yellow metal of 99.5 per cent purity dipped ₹ 250 to ₹ 97,350 per 10 grams (inclusive of all taxes). It had depreciated by ₹ 1,500 to ₹ 97,600 per 10 grams in the previous market close. Globally, spot gold rose marginally to USD 3,312.84 per ounce. "Gold consolidated in the lower end of its range on Monday amid mixed signals. The highly anticipated talks between the US and China have raised hopes that the two largest economies can make progress on various disputes, which could reduce demand for safe havens". "Additionally, the latest Nonfarm Payrolls report in the US was strong, prompting traders to re-evaluate their expectations regarding a potential easing of monetary policy by the Federal Reserve, which also serves as a headwind for the yellow metal," Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said. Spot silver rose 0.9 per cent to USD 36.30 per ounce in the international market. "Silver prices stood out with strong gains hitting a 13-year high on the global stage and achieving lifetime highs in the domestic markets," Mehta Equities' Vice-President, Commodities Rahul Kalantri said. "Improving sentiment from softer European inflation and trade optimism helped silver breach the USD 36 per ounce level, breaking out of a long-standing consolidation range," Kalantri added.
The Print
06-06-2025
- Business
- The Print
Silver continues record run for 2nd day, hits fresh peak of Rs 1.07 lakh/kg
So far this year, the metal prices have jumped Rs 17,400 per kg, or 19.4 per cent, since December 31 last year. According to the All India Sarafa Association, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per kilogram (inclusive of all taxes) in the local markets on Thursday. New Delhi, Jun 6 (PTI) Silver prices soared Rs 3,000 to hit another record high of Rs 1,07,100 per kilogram in the national capital on Friday amid buying rush by local jewellers and stockists. As per the Association, the precious metal of 99.9 and 99.5 per cent purity traded flat at Rs 99,690 and 99,100 per 10 grams (inclusive of all taxes) on Friday. Traders said silver prices saw an uptrend due to a rise in domestic demand as well as global influences. The most-traded July contract for silver increased Rs 1,622 to hit a fresh peak of Rs 1,06,065 per kg. Also, the contracts for September delivery climbed Rs 1,650 to hit a lifetime high of Rs 1,07,130 per kg on the Multi Commodity Exchange (MCX). Gold contracts for August delivery fell Rs 44 to Rs 97,830 per 10 grams on the MCX. In the overseas markets, spot gold rose 0.22 per cent to trade at USD 3,360.05 per ounce. According to Kotak Securities' AVP-Commodity Research Kaynat Chainwala, gold is trading firm as investors remain cautious ahead of the US Nonfarm Payrolls data to be released later in the day. Spot silver rose 1.63 per cent to USD 36.23 per ounce in the global markets. Brokerage firm Kotak Securities said silver surged hitting a 13-year high amid improving supply-demand fundamentals, and growing investor interest. PTI HG TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
