For the week-just-ended, the ringgit traded flat to easier in tracking among others, global crude oil prices, the consumer price index, as well as Bank Negara’s upcoming interest rate announcement. — Bernama pic
“Markets have been pricing in a cut to the overnight policy rate , after the central bank said in March that it was “building policy space and buffers pre-emptively”. However, he said, rising expectations for an imminent US-China trade deal may boost overall risk sentiment and help strengthen the local currency, helping it move towards the lower end of the 4.10-4.15 trading range against the greenback.
He said however, Malaysia could rely on its domestic economic fundamentals to push back against the dollar tide, given its “brighter” Nikkei Malaysia PMI numbers and the rebound in March’s external trade data.