The US Conference Board reported that US consumer confidence fell to 89.1 points in December, says analyst.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US think tank, the Conference Board, reported that US consumer confidence fell to 89.1 points in December from 92.9 points in November, below consensus estimates of 91.7 points.
“This indicates that the Federal Reserve might shift its monetary easing stance by more than 25 basis points in 2026,” he told Bernama.
Afzanizam said the ringgit continued its appreciation trend today, with the US Dollar Index (DXY) slipping 0.08% to 97.863 points.
At 6pm, the local currency surged to 4.0425/4.0515 versus the greenback, from 4.0615/4.0665 at yesterday’s close.
At today’s close, the ringgit traded higher against a basket of major currencies.
It appreciated against the euro to 4.7697/4.7804 from 4.7901/4.7960 at yesterday’s close, rose against the British pound to 5.4647/5.4768 from 5.4851/5.4918, and edged up against the Japanese yen to 2.5940/2.5999 from 2.6039/2.6072.
The local currency also traded higher against Asean peers.
It strengthened versus the Thai baht to 13.0277/13.0639 from 13.0486/13.0705, improved against the Indonesian rupiah to 241.0/241.8 from 241.9/242.3 previously, was up against the Philippine peso to 6.88/6.90 from 6.90/6.91, and advanced against the Singapore dollar to 3.1506/3.1578 from 3.1607/3.1648.
Meanwhile, locally, Bursa Malaysia Bhd and its subsidiaries will be closed on Dec 25, 2025, in conjunction with Christmas Day, and on Jan 1, 2026, for the New Year’s Day holiday. It will resume operations on the day after each of these public holidays.
However, the exchange said Bursa Gold Dinar (BGD) primary marketplace and Bursa Suq Al-Sila (BSAS) will remain open for trading throughout the public holidays. - FMT
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