# Ringgit likely to trade range-bound next week ahead of US economic data | Scoop

> The ringgit ended the week of November 17 to 24 weaker against the US dollar, at 4.6830/6875 from 4.6785/6825 a week earlier. Analysts expect it to trade range-bound ahead of US non-farm payrolls and the outcome of the OPEC+ meeting.

- Date: 2023-11-25 · published 2023-11-25T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/33433-ringgit-likely-to-trade-range-bound-next-week-ahead-of-us-economic-data-scoop
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A possible OPEC+ failure to cut output could lower oil prices and weigh on the ringgit, which affects Malaysian palm oil economics. The forecast is a range-bound outlook without a firm new driver.

## Read by commodity

- WTI: neutral
- USDMYR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-08-28 | [Commodities Week Ahead: After Fed, US Jobs Pose Next Challenge for Oil \| Investing.com](https://feedsoft.ai/events/34486-commodities-week-ahead-after-fed-us-jobs-pose-next-challenge-for-oil-investing.md) | +6.6% | +11.7% |
| WTI | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.7% | +0.8% |
| WTI | 2026-06-26 | [US diesel refining economics remain firm despite Iran war truce \| Reuters](https://feedsoft.ai/events/19002-us-diesel-refining-economics-remain-firm-despite-iran-war-truce-reuters.md) | -4.2% | +28.1% |
| WTI | 2026-06-29 | [FX Outlook: A Busy Week Ahead \| Investing.com UK](https://feedsoft.ai/events/19033-fx-outlook-a-busy-week-ahead-investing-com-uk.md) | -0.8% | +30.0% |
| WTI | 2020-07-19 | [Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg](https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg.md) | +1.7% | +3.6% |

## Sources

- scoop.my: https://www.scoop.my/news/138711/ringgit-likely-to-trade-range-bound-next-week-ahead-of-us-economic-data/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.