Ringgit Set for Range-Bound Trading Amid Key US Economic Data

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

Dr Afzanizam stated that the ringgit is expected to trade within a range of around RM4.07 to RM4.10 against the US dollar next week. The local currency also gained strength against several major currencies, including the British pound, Japanese yen, and euro.

On the domestic front, focus will increasingly turn to Budget 2027, which is scheduled to be tabled on October 9. Domestic political developments could also influence how foreign investors assess the Malaysian market, with the Melaka state election among the developments being monitored.