THE national currency traded almost flat against the US dollar on Wednesday morning as investors remained cautious ahead of the release of key United States labour market data later in the week.
At 8am, the local currency opened at 3.9220/9345 against the greenback, virtually unchanged from Tuesday’s close of 3.9220/9260.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the US dollar index edged up marginally by 0.05 per cent to 96.865 points, despite signs of weakness in recent US economic 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,” he said.
He added that market participants were now focused on upcoming US labour market indicators.
“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.
Despite near-term caution linked to global developments, Dr Afzanizam said sentiment towards Malaysia remained constructive, noting that the ringgit had ended stronger against the US dollar in the previous session.
“High-frequency data continue to support the country’s economy, with the Industrial Production Index 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.
In early trade, the ringgit was mostly firmer against major currencies. It strengthened against the British pound to 5.3465/3635 from 5.3610/3664 at Tuesday’s close and rose against the euro to 4.6621/6769 from 4.6731/6778. However, it eased against the Japanese yen to 2.5382/5464 from 2.5264/5292 previously.
The local currency also traded mostly higher against its regional peers. It edged up against the Singapore dollar to 3.0989/1090 from 3.0994/1028 and strengthened against the Thai baht to 12.5420/5920 from 12.5866/6051.
The ringgit was unchanged against the Philippine peso at 6.70/6.72 from 6.70/6.71 and flat against the Indonesian rupiah at 233.3/234.1 compared with 233.3/233.6 at Tuesday’s close.
Market observers said currency movements were likely to remain subdued in the near term as investors await clearer signals from the US economy while continuing to assess Malaysia’s domestic growth momentum. - February 11, 2026
