IWATE, (Japan): Firefighting efforts continued in Ofunato, Iwate Prefecture, as the forest fire spread on Friday (Feb 28), and the number of helicopters being used to help put out the fire has increased to 16.
KUALA LUMPUR: The ringgit is expected to range between RM4.45 and RM4.47 versus the greenback next week as the market sentiment remains cautious over US tariff policies.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that key US economic data will be released next week, including the ISM index for the manufacturing and non-manufacturing sectors, as well as the closely watched nonfarm payrolls report on Friday. Consensus estimates place the NFP at 133,000 for February, down from 143,000 in the previous month, while the unemployment rate is expected to hold steady at 4.0 per cent.
"In a nutshell, US economic data has remained resilient, providing little reason for the US Federal Reserve to alter its current monetary stance, which is expected to keep the American dollar trading higher,” he told Bernama. Over the past week, the ringgit mostly weakened as concerns over an escalating trade war dampened market sentiment. The ringgit depreciated to end the week at 4.4600/4650 from 4.4165/4200 the previous week against the greenback.It weakened against the British pound to 5.6174/6237 from 5.5851/5895, slipped versus the Japanese yen to 2.9682/9717 from 2.9346/9371 last week, and fell against vis-a-vis the euro to 4.6362/6414 from 4.6236/6273 previously.
Ringgit US Dollar Mohd Afzanizam Abdul Rashid NFP Economy
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