Ringgit Traders Eye Key US Data as Interest-Rate Clues Emerge

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

Afzanizam added that investors will also be watching the US Personal Consumption Expenditures inflation report due on September 30, with consensus estimates pointing to an inflation rate of 3.7 per cent in September, unchanged from August.

The ringgit is expected to trade within a range of around RM4.07 to RM4.10 against the US dollar next week, according to Afzanizam.