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100-DMA In Play

MYR

Spot USD/MYR keeps testing its 100-DMA as Malaysia returned from holidays. The rate blipped higher in early trade and last trades +70 pips at MYR4.1650, peeking above that moving average. Consolidation above the 100-DMA would give bulls a green light for targeting Aug 30 high of MYR4.1900. Bears look for a dip through Sep 10 low of MYR4.1300, which would expose the 200-DMA at MYR4.1194.

  • PM Ismail Sabri said that the federal gov't will allocate MYR9bn to Sabah and Sarawak and reiterated commitment to cooperation with the two states, as the country celebrated its 58th birthday.
  • Malaysia's Department of Statistics will release the latest consumer-price inflation data next Friday.

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