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THE ringgit is expected to trade within a narrow range next week, with analysts forecasting movement between RM3.96 and RM3.98 against the US dollar as global markets focus on upcoming United States economic data.
According to Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid, investor sentiment will be largely driven by the US labour market report, particularly the Nonfarm Payrolls (NFP) figures, which are seen as a key indicator for monetary policy direction.
“This is a critical data point as the Federal Reserve needs to see convincing evidence that the labour market is softening. Otherwise, it is likely to maintain its restrictive monetary stance,” he told Bernama.
The ringgit closed slightly weaker on Thursday at 3.9690/9740 against the US dollar, compared with 3.9630/9670 the previous week, reflecting subdued trading ahead of the Labour Day holiday closure on Friday.
The local currency also weakened against major global currencies over the week. It slipped against the British pound to 5.3593/3661 from 5.3429/3483, eased against the euro to 4.6417/6476 from 4.6312/6358, and declined versus the Japanese yen to 2.4907/4942 from 2.4808/4834.
Against regional peers, however, the ringgit largely strengthened. It appreciated against the Thai baht to 12.1711/1932 from 12.2183/2363, rose against the Philippine peso to 6.45/6.47 from 6.52/6.53, and gained against the Indonesian rupiah to 228.7/229.2 from 230.0/230.3.
The currency was marginally lower against the Singapore dollar at 3.1061/1103 compared with 3.1009/1043 previously.
Market observers note that while external factors, particularly US monetary policy expectations, continue to dominate sentiment, the ringgit’s regional performance reflects relative resilience within emerging Asian currencies. - May 2, 2026
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