The ringgit opened higher against the US dollar today after US job openings fell to their lowest level in more than three and a half years in September and maintained the narrative of the next interest rate cut.
At 10.15am, the ringgit was at 4.3770 which is 0.14% lower against the US dollar than it closed at 4.3708 on Tuesday.
The US Job Openings and Labor Turnover Survey (JOLTS) showed a drop of 418,000 job openings to 7.443 million in September, the lowest level since January 2021.
Bank Muamalat Malaysia Bhd's chief economist, Dr Afzanizam Abdul Rashid said job opening was lower than expected at 7.443 million in September compared to market expectations of 7.98 million and 7.861 million in August.
For now, the ringgit could receive some support today after experiencing a long period of depreciation.
Meanwhile, the ringgit is mostly higher against a group of major currencies.
It rose against the Japanese yen to 2.8503/8586 from 2.8516/8550 at Tuesday's close and rose against the euro to 4.7265/7400 from 4.7344/7398 yesterday but it fell against the British pound to 5.6839/7001 from 5.6805/6870 previously.
The ringgit also traded mostly higher against Asean currencies.
The local currency was slightly stronger against the Indonesian rupiah at 276.9/277.8 compared to 277.4/277.9 at yesterday's close, rose against the Singapore dollar to 3.2997/3094 from 3.3044/3084 and improved against the Philippine peso to 7.49/7.52 from 7.51/7.52 yesterday.
However, it eased against the Thai baht to 12.9742/13.0171 from 12.9544/9746 previously.
