KUALA LUMPUR: The ringgit is expected to trade flat this week, potentially trading at around RM4.41 to RM4.42, says Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.
He said that US President Donald Trump indicated a reluctance to keep raising tariffs against China as it might impact the trade between the two nations. Additionally, he said several US Federal Reserve officials, including Christopher Waller and Austan Goolsbee, are scheduled to share their thoughts on the current state of the economy this week.
Meanwhile, SPI Asset Management managing director Stephen Innes expects market volatility to remain muted this week as diminishing returns on the US-China tariff front have been reached.
He anticipates the ringgit to trade within a slightly broader range of RM4.39 to RM4.43, reflecting the landscape of ongoing trade negotiations.
Innes said that at this stage, markets expect some level of give-and-take to materialise out of necessity to avoid further economic drag.
“An easing of US-China tensions might provide some support for the ringgit, though as always, there’s no certainty as the market closely monitors the news flow. — Bernama
