Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Forex

Ringgit Rally to Meet Resistance Next Week: Kenanga Investment Bank Bhd

Guavy AI Editorial Team
Instruments
USD
Share

The Malaysian ringgit has experienced a strong rally over the past six trading days, ending at 4.0365/0405 to the US dollar on Friday.

Kenanga Investment Bank Bhd warns that this sharp rise and oversold conditions may lead to profit-taking if US Federal Reserve chair Kevin Warsh delivers less dovish guidance at the Jackson Hole Symposium from August 27-29.

The bank notes that investors will be watching for clues on the Fed's policy decision at the upcoming Federal Open Market Committee meeting on September 15-16, and that the ringgit may trade within a range of 4.04-4.06 before its strength resumes.

More on Forex

Forex 8m ago

Trump's Trade War with Canada Enters New Chapter

Forex 19m ago

Jobs Report Delivers Mixed Signals as Payrolls Unexpectedly Decline

Forex 20m ago

Oregon Job Market Stumbles in July with 4,100 Nonfarm Payroll Job Losses

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy