RINGGIT

THE ringgit is expected to trade in a positive mood following a great week for local bonds, said OANDA head of Trading Asia Pacific, Stephen Innes.

He said the market traded below 4.15 following the US and China 90-day truce to resolve their differences over trade.

At the recent G20 summit in Buenos Aires, both US President Donald Trump and his Chinese counterpart Xi Jinping, reached an agreement to hold off on slapping additional tariffs on each other’s goods after Jan 1, 2019, as talks continued between both countries.

“However, traders need to remember that the ringgit is directly affected by fluctuation of oil prices. Lower oil prices will affect the ringgit’s performance,” he told Bernama.