What is the expected ringgit range against the US dollar next week?

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Expected Ringgit Range Against the US Dollar Next Week

The ringgit is anticipated to trade within the RM3.90 to RM3.95 range against the US dollar in the upcoming week. This forecast is influenced by the impending meeting between US President Donald Trump and Chinese President Xi Jinping, which investors hope will lead to a de-escalation of the US-Iran conflict.
Influence of Trump-Xi Meeting and Geopolitical Factors

The upcoming dialogue between President Trump and President Xi is a significant factor shaping market expectations for the ringgit's performance. Investors are cautiously optimistic that this meeting, intended to stabilise strained relations between the two global powers, could also pave the way for a reduction in tensions concerning the US-Iran conflict. However, the volatile situation in West Asia remains a critical variable that could trigger sudden shifts in market sentiment and currency movements.
Domestic Economic Data on the Horizon

Domestically, market participants are awaiting the release of Malaysia's first quarter of 2026 (1Q 2026) gross domestic product (GDP) data. Scheduled for May 15, this economic indicator is projected to show a robust growth of 5.3 per cent for the quarter. This anticipated expansion is expected to be broad-based, with key contributions anticipated from the manufacturing, services, and construction sectors.
Recent Ringgit Performance Against Major Currencies

In the past week, the ringgit demonstrated a mixed performance against a basket of major currencies. It closed higher against the US dollar, settling at 3.9185/9230 on Friday. The local currency also strengthened against the British pound, reaching 5.3354/3416, and the euro, trading at 4.6121/6174. Conversely, the ringgit experienced a slight depreciation against the Japanese yen, moving to 2.5010/5040.
Performance Against Asean Peers

The ringgit also showed positive momentum against several of its Asean counterparts. It gained ground against the Thai baht, trading at 12.1640/1844, and the Indonesian rupiah, at 225.4/225.7. Furthermore, the ringgit saw a modest increase against the Singapore dollar, moving to 3.0910/0948. However, it recorded a marginal decline against the Philippine peso, ending the week at 6.46/6.47.

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What is the expected ringgit range against the US dollar next week?

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