KUALA LUMPUR: The ringgit snapped a seven-trading-day rally to ease against the US dollar as traders turned cautious ahead of Malaysia’s first-quarter (1Q) 2026 gross domestic product (GDP) announcement later today.
At 8 am, the ringgit opened easier at 3.9320/9370 against the greenback from Thursday’s close of 3.9300/9330, although it traded firmer against other major currencies.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said today’s focus will be on Malaysia’s 1Q 2026 GDP, with most economists pencilling in growth of 5.3 per cent.
"As such, traders are expected to trade the ringgit cautiously,” he told Bernama amid expectations that the data could boost the local currency.
Meanwhile, Mohd Afzanizam said the US Dollar Index rose 0.36 per cent to 98.874 points after April 2026 US retail sales data indicated consumer spending remained fairly resilient.
At the opening, the ringgit traded higher against a basket of major currencies.
It appreciated against the Japanese yen to 2.4823/4856 from 2.4886/4907, strengthened versus the British pound to 5.2646/2712 from 5.3094/3135, and rose against the euro to 4.5855/5913 from 4.6009/6044 at Thursday’s close.
The local note traded mixed against regional peers.
It climbed against the Singapore dollar to 3.0798/0842 from Thursday’s close of 3.0867/0893 and strengthened against the Thai baht to 12.1171/1392 from 12.1506/1652 previously.
However, the ringgit weakened against the Indonesian rupiah to 224.3/224.7 from yesterday’s close of 224.1/224.4 and slipped against the Philippine peso to 6.38/6.39 from 6.37/6.38. - Bernama
