KUALA LUMPUR, Aug 8 — The ringgit is expected to remain range-bound against the United States (US) dollar next week, trading between RM4.07 and RM4.09 as investors stay cautious over the direction of US interest rates.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said investors will turn their attention to the US Consumer Price Index due to be released on August 12, with the consensus forecast at 3.4 per cent.
On the home front, investors will also monitor Malaysia's second-quarter (2Q) 2026 gross domestic product (GDP) data due on August 14.
“We believe 2Q 2026 GDP growth is likely to match the advance estimate of 5.8 per cent,” he told Bernama.
Meanwhile, Quintex Intel global strategist Stephen Innes said the ringgit is expected to trade between RM4.0825 and RM4.0975 against the US dollar.
The latest US non-farm payrolls report could reinforce expectations that the labour market is cooling at a measured pace, reducing fears of a significant economic slowdown.
"Even with a softer payroll print, the market still believes the US Federal Reserve remains more focused on inflation risks.
"That suggests the US dollar could weaken modestly next week, but a more sustained decline appears unlikely while oil prices remain firm,” he said.
On a Friday-to-Friday basis, the ringgit eased against the US dollar to 4.0885/0930 from 4.0835/0875 a week earlier.
The local currency traded lower against most major currencies during the week.
It weakened against the Japanese yen to 2.5813/5843 from 2.5520/5548, declined vis-à-vis the euro to 4.7132/7184 from 4.6981/7027, and depreciated against the British pound to 5.4949/5010 from 5.4923/4977.
The ringgit also traded lower against ASEAN currencies.
It slid against the Singapore dollar to 3.1911/1949 from 3.1823/1856 and slipped against the Philippine peso to 6.71/6.72 from 6.66/6.67 a week earlier.
The ringgit edged lower against the Thai baht to 12.3665/3843 from 12.2264/2435 and decreased against the Indonesian rupiah to 228.4/228.7 from 226.6/226.8 a week previously.
