KUALA LUMPUR, Sept 26 — The ringgit is expected to trade within a narrow range against the United States (US) dollar next week as investors await key US economic data for further clues on interest-rate direction.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said attention would be on the US labour market next week, particularly the nonfarm payrolls report, which is due to be released on October 2.
“We expect the ringgit to trade within a range of around RM4.07 to RM4.10 against the US dollar next week,” he told Bernama.
Afzanizam added that attention would also be on the US Personal Consumption Expenditures inflation report due on September 30, with consensus estimates pointing to an inflation rate of 3.7 per cent in September, unchanged from August.
On the domestic front, focus will increasingly turn to Budget 2027, which is scheduled to be tabled on October 9.
“Domestic political developments could also influence how foreign investors assess the Malaysian market, with the Melaka state election among the developments being monitored,” he said.
Meanwhile, on a Friday-to-Friday basis, the ringgit increased against the greenback to 4.0715/0765 from 4.0795/0840 a week earlier.
The local currency also traded higher against a basket of major currencies during the week.
The ringgit appreciated versus the British pound to 5.3907/3973 from 5.4543/4603 on the previous Friday, gained against the Japanese yen to 2.5764/5797 from 2.5829/5860, and rose vis-a-vis the euro to 4.6378/6435 from 4.6849/6901.
It also traded mostly higher against ASEAN currencies.
The local note edged up versus the Singapore dollar to 3.1858/1900 from 3.1933/1971 a week earlier, strengthened vis-à-vis the Thai baht to 12.2036/2234 from 12.2383/2562, and climbed against the Indonesian rupiah to 227.4/227.8 from 229.7/230.0
However, it slipped against the Philippine peso to 6.52/6.53 from 6.50/6.51 last Friday.
