Ringgit nearly flat ahead of Q2 GDP announcement
Investors were adopting a wait-and-see approach ahead of tomorrow's economic data from Bank Negara Malaysia and the statistics department, says an analyst.
The Malaysian ringgit remained nearly unchanged against the US dollar as investors remained cautious ahead of the country's second-quarter GDP figures. The ringgit slipped to 4.0850/4.0890 from Wednesday's close of 4.0835/4.0875. Bank Muamalat Malaysia's chief economist, Afzanizam Abdul Rashid, noted that investors were waiting for data from Bank Negara Malaysia and the statistics department.
Malaysia's advance GDP estimate for Q2 2026 had expanded by 5.8% year-on-year, surpassing Q1 2026's 5.4% growth. Afzanizam believed the numbers were likely to meet or exceed expectations, based on indicators such as the Industrial Production Index and services activity. The US inflation rate's slight dip to 3.4% suggested that a rate hike decision at the Federal Open Market Committee's September meeting was not inevitable.
The Malaysian currency also strengthened against other major currencies, including the Japanese yen, British pound, and Indonesian rupiah, while weakening against the euro and Singapore dollar.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Ringgit nearly flat ahead of Q2 GDP announcement freemalaysiatoday.com
