KUALA LUMPUR, April 16 — The ringgit is anticipated to trade on a downward trend next week on lack of catalysts, analysts said.
Moreover, he said, the ongoing military conflict in Ukraine would exert pressures on commodity prices and hence inflation.“The International Monetary Fund will release its World Economic Outlook next week and the indication so far is they will downgrade the global growth projections for 2022 and 2023.
“Next week, the Consumer Price Index for March would be out. We believe the figure might be higher than the 2.2 per cent recorded in February. “I think the ringgit could likely move between 4.2250 and 4.2450 next week, but we continue to keep an eye on China’s policy easing that should contain the current run of the ringgit’s weakness,” Innes said.
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