Ringgit Falls as China, U.S. Data Dim Exports Outlook: Macquarie

Ringgit Falls as China, U.S. Data Dim Exports Outlook: Macquarie

By Liau Y-Sing

May 2 (Bloomberg) -- The ringgit slips to a one-week low after reports showing manufacturing slowdowns in China and the U.S. worsen the outlook for Malaysian exports, says Nizam Idris, head of Asian fixed income and foreign-exchange strategy at Macquarie Bank Ltd. in Singapore.

* Investors unlikely to take ringgit positions ahead of Malaysia’s May 5 election, he says

* Threshold for further easing by the Federal Reserve set “pretty high” and economy has to “worsen quite significantly” before more measures likely:

* Ringgit falls 0.2% from April 30 close to 3.0492 per dollar, earlier touching 3.0522, weakest since April 25. Malaysia’s financial markets shut yesterday for holiday