Ringgit Forecast: Narrow Range Ahead as US Data Takes Center Stage
The Malaysian ringgit is expected to trade within a narrow range against the US dollar next week. According to Bank Muamalat Malaysia Bhd's chief economist Dr Mohd Afzanizam Abdul Rashid, key United States economic data releases will guide market sentiment.
The upcoming week will be 'data-heavy' for the US, with indicators such as the Institute for Supply Management (ISM) indices and nonfarm payrolls scheduled for release. These figures are crucial in shaping market expectations about the Federal Reserve's interest rate outlook.
A prolonged pause in US interest rates cannot be entirely ruled out, given the weaker-than-expected second-quarter 2026 US gross domestic product growth, Dr Mohd Afzanizam added. This development could provide some support for the ringgit next week.