Ringgit likely to retreat, trading on Bursa seen to be in tight range, next week

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid(pic) said traders remained cautious on the ringgit, amid a fairly weak external environment. This included China's manufacturing Purchasing Managers' Index which fell below 50 points in December 2018, the ongoing US government shutdown as well as uncertainties with regards to US-China official discussions on the trade dispute sometime this month, he said.

KUALA LUMPUR: The ringgit's upward momentum after reaching a seven-month high on Friday is expected to hit a snag next week as renewed concerns loom over the global markets amid the ongoing US-China trade war.

A dealer said despite earlier reports that the White House would send a representative to Beijing to discuss trade matters, US President Donald Trump reportedly said he was less optimistic on a trade discussion as he would not meet Chinese President Xi Jinping.