Which economic events are scheduled for July 9 that will impact the ringgit?

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Key Economic Events Scheduled for July 9 to Influence Ringgit Trading

The ringgit is anticipated to trade within the RM4.05 to RM4.07 range against the US dollar in the upcoming week, with market participants closely monitoring two significant economic events scheduled for July 9. These events are the release of the United States Federal Open Market Committee (FOMC) minutes and the Bank Negara Malaysia (BNM) Monetary Policy Committee (MPC) meeting.
FOMC Minutes to Provide Clues on US Interest Rate Direction

Market attention will be particularly focused on the FOMC minutes, due on July 9. Economists and investors are keen to glean insights into the future trajectory of US interest rates from these minutes, especially in light of the Federal Reserve's lack of explicit forward guidance during its June meeting. This information is expected to influence trading sentiment and the US dollar's performance.
BNM MPC Meeting Expected to Maintain Current OPR

Concurrently, Bank Negara Malaysia's Monetary Policy Committee (MPC) is also scheduled to convene on July 9. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid anticipates that BNM will maintain the overnight policy rate (OPR) at its current level of 2.75 per cent. This expectation stems from the view that there are no compelling reasons to alter the prevailing monetary policy stance at this juncture.
Ringgit Performance Against Major Currencies Reviewed

In the preceding week, the ringgit demonstrated an appreciation against the US dollar, closing at 4.0690/0735 compared to 4.0860/0910 a week prior. The local currency also saw gains against a majority of other major currencies. It strengthened against the Japanese yen, moving from 2.5283/5316 to 2.5253/5281, and against the euro, from 4.6605/6662 to 4.6553/6606. However, it experienced a depreciation against the British pound, falling from 5.4013/4079 to 5.4325/4385.

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Which economic events are scheduled for July 9 that will impact the ringgit?

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