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If Ho Jinli wins, the Ringgit still has 5% appreciation potential.
ALLIANZ: If Ho Jinli wins, it could help the Ringgit rise by 5%.
(Kuala Lumpur, 24th News) The US presidential election has entered a heated stage, with economists predicting the candidates' impact on the Ringgit. Ludovic Subran, Chief Economist of the insurance institution Allianz, expressed that if Ho Jinli is elected, the Ringgit will regain momentum and could rise another 5% by the end of the year.
The 2024 US presidential election falls on November 5th, with less than 3 weeks left, the world is eagerly awaiting who will be elected as the new US president.
Subran pointed out that the current exchange rate fluctuations are significant, with the market generally believing that if former President Trump is elected, the US Dollar will strengthen; if Vice President Ho Jinli is elected, the US Dollar will weaken.
In contrast, if Trump is elected, the Ringgit will further depreciate by 5% to 10% in 2025; if Haji Lai is elected, the depreciation is expected to be controlled between 2% and 3%.
He still believes that the Ringgit's trend correction and other factors continue to bring some downward pressure on the Ringgit. Despite this, the Ringgit is not significantly overvalued, the real issue is external unfavorable factors.
He said that Malaysia relies heavily on foreign capital to drive economic growth.
I remain optimistic, believing that a 2% to 3% decline in the Ringgit under Haji Lai's election is manageable. In the short term, the Ringgit still has the opportunity to appreciate, and will stabilize before 2025. The main concern is Trump, if he is elected, it will lead to further depreciation.
Since October, the Ringgit has depreciated against the US Dollar. $USD/MYR (USDMYR.FX)$ It has dropped by over 5%, as of 5 pm, 1 US Dollar equals 4.3503 Ringgit.
Source of information: Nanyang Siang Pau
Disclaimer: This content is for reference and education purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and responsibilities arising from relying on this content. Before making any investment decisions, be sure to conduct your own independent research and evaluation, and seek advice from professional advisors when necessary. The author and related participants are not responsible for any losses or damages resulting from the use or reliance on the information contained in this article.
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Victor靓汤 : It's simply nonsense. If Trump takes office, he has even said he wants 0 income tax, 20% tariffs across the board, and weaken the dollar to boost exports. With this logic, if Trump takes office, the Malaysian Ringgit will only appreciate, not depreciate.
Money_Never_Sleeps Victor靓汤 : It seems that the investment by Allianz is not very reliable.
新柔廖淡馬103157933 : If Trump is elected and imposes tariffs, it will depend on whether the tariffs are collected or not. If they are collected just right and do not significantly increase usa inflation, the extra tariffs will temporarily strengthen the dollar, which can also curb inflation, relying on the increased purchasing power of the dollar.
If they are not collected just right, or if there are too many, then significant inflation in the USA could be the prelude to a great depression.
The essence lies in whether to believe in international free trade or believe in economic and technical bureaucracy.
xxChrisss : No matter who is elected, the dollar will soar for a while.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")