Ringgit Eases vs Dollar Amid Caution Over Key US Jobs Data

The Malaysian ringgit (MYR) weakened slightly against the US dollar (USD) by the end of last week, as investors remained cautious ahead of key US labour market data releases.

According to Stephen Innes, global strategist at Quintex Intel, the market is expecting a balanced US jobs report, with non-farm payrolls anticipated to increase by around 60,000.

Innes stated that even if payroll growth comes in softer than expected, the market still believes the US Federal Reserve (US Fed) will continue to focus on inflation risks.

This suggests that the US dollar could weaken modestly next week, but a more sustained decline appears unlikely as long as oil prices remain firm.