Ringgit Range-Bound Ahead of Key Releases

The Ringgit is expected to remain range-bound against the US dollar this week, trading between RM4.07 and RM4.09 as investors stay cautious over the direction of US interest rates.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said investors will focus on the upcoming US consumer price index (CPI) release on August 12, with a consensus forecast at 3.4%.

Afzanizam also mentioned that investors will monitor Malaysia's second-quarter GDP data due on August 14, where the advance estimate is expected to match 5.8% growth.

Quintex Intel global strategist Stephen Innes said the Ringgit could trade between RM4.0825 and RM4.0975 against the US dollar.