US economic data to set direction for ringgit this week; expected to oscillate around RM4.67 to RM4.68

KUALA LUMPUR (Bernama): The foreign exchange market is predicted to remain cautious as it enter the first week of December, with all eyes on major data points such as the US Nonfarm Payroll (NFP) and Unemployment Rate, which will be critical for ringgit-US dollar performance.

Bank Muamalat Malaysia chief economist and social finance head Mohd Afzanizam Abdul Rashid said the markets will be keenly monitoring the performance of these statistics as the Federal Open Market Committee (FOMC) members gather for a last meeting for 2023 on Dec 12-13.