Ringgit Predicted to Trade Range-Bound as Investors Await Key US Data

The Malaysian ringgit is expected to trade within a narrow range against the US dollar next week as investors await key United States economic data for further clues on interest rates. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said attention will be on the US labour market, particularly the nonfarm payrolls report due on Oct 2.

The ringgit is expected to trade between RM4.07 and RM4.10 against the US dollar next week, according to Dr Mohd Afzanizam. He also mentioned that the US Personal Consumption Expenditures inflation report due on Sept 30 will be closely watched, 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 Oct 9. Dr Mohd Afzanizam also noted that domestic political developments could influence how foreign investors assess the Malaysian market, with the Melaka state election among the developments being monitored.