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Kuala Lumpur, 1 June 2026 – The Malaysian ringgit is expected to move within a narrow range of RM3.95 to RM3.97 against the US dollar throughout this week, influenced by subdued trading activity due to public holidays that shortened the trading week.
According to the Chief Economist of Bank Muamalat Malaysia Bhd, Mohd Afzanizam Abdul Rashid, market focus this week will be on United States labour market data, particularly the Nonfarm Payrolls (NFP) report and the unemployment rate.
“Inflation in the US remains elevated with the Personal Consumption Expenditures (PCE) reading at 3.8 per cent in April, well above the Federal Reserve’s (Fed) two per cent target. Therefore, labour market data will be a crucial indicator to assess whether monetary policy needs to be tightened further,” he said.
He added that although the local financial market will be closed on 1 and 2 June to celebrate the King’s Birthday and Wesak Day, the ringgit is expected to remain stable when trading resumes on 3 June.
Last Week’s Performance
At Friday’s close, the ringgit ended stronger at 3.9625/9670 against the US dollar, compared to 3.9655/9700 the previous week. Overall, the ringgit showed mixed performance against major currencies – strengthening against the British pound and Japanese yen, but slightly weaker against the euro.
Against regional ASEAN currencies, the ringgit was mostly weaker except against the Indonesian rupiah.
With US jobs data due to be released soon, investors are expected to maintain a cautious approach, thereby supporting the forecast of a narrow trading range for the ringgit in the near term.
