forex trading outlook today - ringgit prediction next week april 9-13 2012, malaysian ringgit outlook next week april 9 2012, ringgit performance next week april 9-13 2012 : The ringgit, which touched 3.04 against the US dollar for the week just-ended, is likely to be traded between 3.03 and 3.08 next week, dealers said.A dealer said the release of the US jobs data, expected late Friday night, was expected to affect the ringgit's movements against the greenback next week.
"The ringgit did not really move last week. It had been holding at the 3.06 level in the last two days of the week. I think the support level for next week should be at 3.04.
"The release of the jobs data will have a big impact on the local currency as some markets are closed until Monday for the Easter holidays.
"It will be a major determinant in the ringgit's performance next week," he said.
Another dealer said he was optimistic of the performance of the ringgit, saying that it was likely to move between 3.03 and 3.06 next week.
He said continued investor confidence in the ringgit would boost the local currency to 3.03 level next week.
"I expect the ringgit to move around the 3.03 level in the second quarter. Malaysia has good fundamentals to support the movement of the local currency," he said.
For the week just-ended, the ringgit closed at its highest at 3.0455/0476 on Tuesday backed by the strong manufacturing data from China.
On a Friday-to-Friday basis, the ringgit appreciated against the US dollar to 3.0610/0640 from 3.0630/0660 last Friday and strengthened against the Singapore dollar to 2.4294/4337 from 2.4346/4374 previously.
It rose against the British pound to 4.8511/8564 from 4.8999/8053 the previous week and was sharply higher against the euro to 3.9989/9034 from 4.0857/0910 last Friday.
The local unit ended the week firmer against the yen to 3.7121/7180 from 3.7285/7331 previously.
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