Ringgit To Remain Range-bound At 4.07-4.09 Against US Dollar Next Week
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, Aug 8 (Bernama) -- The ringgit is expected to remain range-bound against the US dollar next week, trading between RM4.07 and RM4.09 as investors stay cautious over the direction of the United States interest rates, an analyst said.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors would turn their attention to the US Consumer Price Index (CPI) due to release on Aug 12, 2026, with the consensus forecast at 3.4 per cent.
On the home front, he said investors investors would also monitor Malaysia's second-quarter (2Q) 2026 gross domestic product (GDP) data due on Aug 14.
“We believe 2Q 2026 GDP growth is likely to match the advance estimate of 5.8 per cent,” Mohd Afzanizam told Bernama.
Meanwhile, Quintex Intel global strategist Stephen Innes said the ringgit is expected to trade between RM4.0825 and RM4.0975 against the US dollar.
He said the latest US non-farm payrolls report could reinforced expectations that the labour market is cooling at a measured pace, reducing fears of a significant economic slowdown.
"Even with a softer payroll print, the market still believes the US Federal Reserve remains more focused on inflation risks.
"That suggests the US dollar could weaken modestly next week, but a more sustained decline appears unlikely while oil prices remain firm,” said Innes.
On a Friday-to-Friday basis, the ringgit eased against the US dollar to 4.0885/0930 from 4.0835/0875 a week earlier.
The local currency traded lower against most major currencies during the week.
It weakened against the Japanese yen to 2.5813/5843 from 2.5520/5548, declined vis-a-vis the euro to 4.7132/7184 from 4.6981/7027, and depreciated against the British pound to 5.4949/5010 from 5.4923/4977 previously.
The ringgit also traded lower against ASEAN currencies.
It slid against the Singapore dollar to 3.1911/1949 from 3.1823/1856 and slipped against the Philippine peso to 6.71/6.72 from 6.66/6.67 a week earlier.
The ringgit edged lower against the Thai baht to 12.3665/3843 from 12.2264/2435 and decreased against the Indonesian rupiah to 228.4/228.7 from 226.6/226.8 a week previously.
-- BERNAMA