Kuala lumpur: The ringgit is expected to trade cautiously next week ahead of key data points in the United States, including the Conference Board Consumer Confidence Index and producer price index (PPI), as well as speeches by several Federal Reserve officials. Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid said he expects sentiment among currency traders to remain cautious.

According to BERNAMA News Agency, Mohd Afzanizam noted that the ringgit could remain within a range of RM3.90 to RM3.93, with RM3.90 continuing to act as a psychological barrier. On a week-on-week basis, the ringgit ended the week firmer against the US dollar, closing at 3.8995/9055 compared to the previous week's 3.9060/9115.

The local currency traded higher against a basket of major currencies during the week. It appreciated against the Japanese yen to 2.5092/5132 from 2.5435/5474, rose against the British pound to 5.2511/2591 from 5.3211/3286, and gained versus the euro to 4.5882/5952 from 4.6325/6390 a week earlier.

The ringgit also traded mostly higher compared with its ASEAN peers. It increased versus the Singapore dollar to 3.0724/0774 from 3.0904/0950, was higher compared with the Indonesian rupiah at 230.8/231.3 from 231.9/232.4, improved against the Philippine peso to 6.70/6.72 from 6.73/6.74, and edged up against the Thai baht to 12.4952/5216 from 12.5607/5849 previously.