Ringgit to Trade in Narrow Range Amid Fed Officials' Speeches

The ringgit is expected to trade within a narrow range against the US dollar next week, according to Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd.

This prediction comes as several US Federal Reserve officials are set to share their thoughts with the public, which may provide valuable insights into their thought process regarding upcoming economic decisions.

A key factor that will likely influence market movements is the risk of higher fuel prices, Dr. Afzanizam noted, adding that this could have a significant impact on investors' decisions.

The US Federal Reserve has forecast another 25-basis point hike this year, which may also contribute to market volatility next week.