Ringgit likely to trade between 4.21-4.23 against the US dollar this week; supported by demand for the local note

KUALA LUMPUR  The ringgit is expected to trade within a narrow range of RM4.21 to RM4.23 against the US dollar this week, supported by demand for the local note and key US economic data releases.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market attention will focus on US labour data, including the job openings and labour turnover survey, the ADP employment change, and nonfarm payroll figures.

"So far, weekly initial jobless claims indicate that the US labour market remains resilient, with applications for unemployment benefits staying relatively low,” he told Bernama.

Looking ahead, he said the tabling of Budget 2026 on Oct 10 will also be closely watched.

"We expect the government to maintain its expansionary stance while ensuring fiscal deficits continue to decline. Such measures should support the ringgit in the medium to longer term,” he added.

On a weekly basis, the ringgit ended slightly weaker against the greenback, closing at 4.2200/2250 versus 4.2040/2115 previously.

However, the local note strengthened against a basket of major currencies. It appreciated against the Japanese yen to 2.8171/8206 from 2.8419/8471, rose versus the euro to 4.9281/9340 from 4.9447/9536, and gained against the British pound to 5.6345/6412 from 5.6775/6876.

The ringgit also advanced against regional peers, rising against the Singapore dollar to 3.2630/2671 from 3.2744/2805, strengthening against the Philippine peso to 7.25/7.27 from 7.36/7.38, gaining versus the Indonesian rupiah to 252.1/252.5 from 253.2/253.8, and improving against the Thai baht to 13.0587/1069 from 13.1973/2271.

Ringgit likely to trade between 4.21-4.23 against the US dollar this week; supported by demand for the local note

KUALA LUMPUR  The ringgit is expected to trade within a narrow range of RM4.21 to RM4.23 against the US dollar this week, supported by demand for the local note and key US economic data releases.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market attention will focus on US labour data, including the job openings and labour turnover survey, the ADP employment change, and nonfarm payroll figures.

"So far, weekly initial jobless claims indicate that the US labour market remains resilient, with applications for unemployment benefits staying relatively low,” he told Bernama.

Looking ahead, he said the tabling of Budget 2026 on Oct 10 will also be closely watched.

"We expect the government to maintain its expansionary stance while ensuring fiscal deficits continue to decline. Such measures should support the ringgit in the medium to longer term,” he added.

On a weekly basis, the ringgit ended slightly weaker against the greenback, closing at 4.2200/2250 versus 4.2040/2115 previously.

However, the local note strengthened against a basket of major currencies. It appreciated against the Japanese yen to 2.8171/8206 from 2.8419/8471, rose versus the euro to 4.9281/9340 from 4.9447/9536, and gained against the British pound to 5.6345/6412 from 5.6775/6876.

The ringgit also advanced against regional peers, rising against the Singapore dollar to 3.2630/2671 from 3.2744/2805, strengthening against the Philippine peso to 7.25/7.27 from 7.36/7.38, gaining versus the Indonesian rupiah to 252.1/252.5 from 253.2/253.8, and improving against the Thai baht to 13.0587/1069 from 13.1973/2271.