The ringgit is anticipated to trade within the 4.40 to 4.45 range against the US dollar this week, according to Kenanga Investment Bank Bhd. This forecast is based on trade developments and broader risk sentiment.
While the US dollar may not immediately react to tariff announcements by US President Donald Trump, as observed last Monday, it could strengthen once duties take effect and appear more permanent.
The investment bank highlights the ongoing focus on the United States-China talks and European Union tariff risks.
Recent data suggests a cooling US labor market, with the Job Openings and Labor Turnover Survey (JOLTS) showing declining job openings. Investors awaited the nonfarm payrolls data, and benchmark revisions may weigh on the US dollar.
A weak reading could signal slowing US growth, but an expected sticky inflation data this week keeps the US Federal Reserve's policy uncertainty alive.