RINGGIT OPENS FLAT AGAINST GREENBACK AMID CAUTION AHEAD OF US LABOUR DATA

By K. Naveen Prabu

KUALA LUMPUR, Feb 11 (Bernama) -- The ringgit opened nearly unchanged against the US dollar on Wednesday, as investors adopt a cautious stance ahead of key United States labour market data release.

At 8 am, the local currency opened at 3.9220/9345 against the greenback from Tuesday’s close of 3.9220/9260. 

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US dollar index (DXY) edged up slightly by 0.05 per cent to 96.865 points, despite weaker-than-expected US retail sales data.

“US retail sales were unchanged month-on-month in December 2025 compared with consensus estimates of 0.4 per cent, suggesting weaker consumer sentiment and slower spending momentum.

“As such, traders will be closely watching the Nonfarm Payrolls and unemployment rate, with consensus estimates at 70,000 jobs compared with 50,000 in December, while the unemployment rate is expected to remain unchanged at 4.4 per cent,” he told Bernama.

Meanwhile, he said traders and investors remain positive on Malaysia, as the ringgit closed higher against the greenback yesterday. 

“High-frequency data continue to support the country’s economy, with the Industrial Production Index (IPI) and the Index of Services growing by 5.0 per cent and 6.5 per cent, respectively, in the fourth quarter of 2025, compared with 4.9 per cent and 5.5 per cent in the previous quarter,” he said. 

At the opening, the ringgit traded mostly higher against a basket of major currencies.

It strengthened against the British pound to 5.3465/3635 from 5.3610/3664 at Tuesday’s close, and rose versus the euro to 4.6621/6769 from 4.6731/6778 previously. However, it weakened against the Japanese yen to 2.5382/5464 from 2.5264/5292 at Tuesday’s close.

The local note also traded mostly higher against its ASEAN peers. 

It was slightly higher versus the Singapore dollar to 3.0989/1090 from 3.0994/1028 previously and strengthened against the Thai baht to 12.5420/5920 from 12.5866/6051.

The ringgit was flat against the Philippine peso at 6.70/6.72 from 6.70/6.71 previously. It was also flat against the Indonesian rupiah at 233.3/234.1 from 233.3/233.6 at yesterday's close.

-- BERNAMA