Array
(
    [_edit_lock] => Array
        (
            [0] => 1700273701:20
        )

    [tdc_dirty_content] => Array
        (
            [0] => 1
        )

    [tdc_icon_fonts] => Array
        (
            [0] => a:0:{}
        )

    [_thumbnail_id] => Array
        (
            [0] => 136278
        )

    [_edit_last] => Array
        (
            [0] => 20
        )

    [_post_language] => Array
        (
            [0] => 
        )

    [_molongui_author] => Array
        (
            [0] => guest-97702
        )

    [_molongui_main_author] => Array
        (
            [0] => guest-97702
        )

    [td_post_theme_settings] => Array
        (
            [0] => a:1:{s:11:"td_subtitle";s:83:"This, driven by market uncertainties, potential interest rate cuts in United States";}
        )

    [_yoast_wpseo_primary_category] => Array
        (
            [0] => 599
        )

    [_yoast_wpseo_metadesc] => Array
        (
            [0] => The ringgit is expected to trade in a tight range of RM4.67 to RM4.68 against the US dollar next week as traders seek fresh leads for market direction.
        )

    [_yoast_wpseo_content_score] => Array
        (
            [0] => 30
        )

    [_yoast_wpseo_estimated-reading-time-minutes] => Array
        (
            [0] => 2
        )

    [_yoast_wpseo_wordproof_timestamp] => Array
        (
            [0] => 
        )

    [post_views_count] => Array
        (
            [0] => 327
        )

    [post_views_count_7_day_arr] => Array
        (
            [0] => a:7:{i:0;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:1;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:2;a:3:{s:4:"date";s:10:"1751428625";s:5:"count";i:2;s:14:"per_hour_count";a:1:{i:3;i:2;}}i:3;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:4;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:5;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:6;a:2:{s:4:"date";i:0;s:5:"count";i:0;}}
        )

    [post_view_7days_last_day] => Array
        (
            [0] => 2
        )

    [post_views_count_7_day_last_date] => Array
        (
            [0] => 1751428625
        )

    [post_views_count_7_day_total] => Array
        (
            [0] => 2
        )

    [post_views_last_24_hours] => Array
        (
            [0] => 2
        )

    [post_views_last_48_hours] => Array
        (
            [0] => 2
        )

)
Ringgit seen trading in tight range against US dollar next week | Scoop
Analysts foresee the ringgit entering a tight trading range of RM4.67 to RM4.68 against the US dollar next week. – Scoop pic, November 18, 2023
News

Ringgit seen trading in tight range against US dollar next week

This, driven by market uncertainties, potential interest rate cuts in United States

Bernama
Updated
10:14 AM MYT

 

KUALA LUMPUR – The ringgit is expected to trade in a tight range of RM4.67 to RM4.68 against the US dollar next week as traders seek fresh leads for market direction.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said market chatter over possible interest rate cuts in the United States may gain momentum this month.

He said it all started with the US nonfarm payroll, which came in lower than expected, followed by the country’s inflation rate, which decelerated to 3.2% in October after sustaining at 3.7% in the past two months. And on Thursday, US jobless claims rose to 231,000 last week from 218,000, suggesting that the labour market is softening.

“The question now is when the US Federal Reserve (Fed) will cut the rate and how steep the reduction is going to be. 

“Nonetheless, the ringgit is expected to remain in a narrow range in the near term due to uncertainties over US rates. The focus next week will be on the US Federal Open Market Committee minutes, as market participants would want to gain more insights on the latest Fed decision,” he said.

Hong Leong Research, in a note, said the ringgit this week rode on the trend of US dollar weakness seen elsewhere. However, the ringgit was weaker across the board versus most of the G10 currencies and major regional currencies, except for the Japanese yen and Hong Kong dollar.

“We are neutral-to-slightly bearish on USD/MYR for the week ahead,” it said.

On a Friday-to-Friday basis, the ringgit appreciated against the US dollar to 4.6785/6825 from 4.7065/7105 a week earlier. 

The local unit depreciated against major currencies. 

It decreased against the euro to 5.0771/0814 from 5.0232/0275 a week ago, slipped versus the Japanese yen to 3.1267/1296 from 3.1072/1101 and weakened vis-a-vis the British pound to 5.8056/8105 from 5.7480/7529 a week earlier. 

The ringgit was also traded mostly lower against its Asean peers. 

It fell against the Singapore dollar to 3.4769/4801 from 3.4599/4631 last week and declined against the Indonesian rupiah to 301.9/302.3 from 299.8/300.2. 

The local note was also lower against the Thai baht at 13.3298/3481 from 13.1108/1267 but improved versus the Philippine peso to 8.40/8.41 from 8.41/8.42 at the previous Friday’s close. – November 18, 2023

Topics

 

◉ Popular

Pencerobohan hutan di Raub: SPRM siasat sejak 2021

Azam berkata siasatan yang dijalankan berhubung pencerobohan tanah di Raub, Pahang adalah kesinambungan daripada siasatan yang dijalankan sejak 2021

Google sekali lagi terbit data tidak tepat pertukaran nilai ringgit, dolar Amerika Syarikat

Bank Negara Malaysia (BNM) tegas menolak data tidak tepat mengenai kadar pertukaran mata wang yang sedang tersebar menerusi media sosial antara dolar Amerika Syarikat (AS$) dan ringgit Malaysia (RM) yang salah diterbitkan Google pada semalam

Putra Heights fire: Elite Highway’s Seafield to Saujana Putra stretch closed

KUALA LUMPUR – Following a gas pipe fire incident in Putra Heights near the Elite Highway, the stretch between Seafield and Bandar Saujana Putra is currently closed to all vehicles as a...

◉ Related

Copyright © 2023. All rights reserved.