Ringgit Predicted to Trade Between 4.07 and 4.09 Against USD Next Week

The ringgit is expected to trade between 4.07 and 4.09 against the US dollar next week, according to Bank Muamalat Malaysia Bhd's chief economist Dr Mohd Afzanizam Abdul Rashid.

This forecast is based on several key United States economic data releases that will shape market sentiment, including ISM indices, JOLTS, nonfarm payrolls, and the unemployment rate.

The data-heavy week in the US comes after a lack of clear forward guidance from the Federal Open Market Committee (FOMC) statement.

A prolonged pause in US interest rates could provide support for the ringgit next week, Dr Mohd Afzanizam said.