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Awaiting CPI Data

MYR

Spot USD/MYR has added 30 pips so far and last changes hands at MYR4.1147, with bulls looking for a move through Apr 16 high of MYR4.1318, which would bring Apr 9 high of MYR4.1454 into play. Conversely, a dip through the 50-DMA/Mar 18 low at MYR4.1027/4.1020 would give bears some fresh momentum.

  • Home Minister Zainudin said that some migrant workers in the plantation sector will be allowed to extend their temporary employment visit pass. The government also plans to broaden the coverage of its Labour Recalibration Programme aimed at regularising undocumented migrants.
  • The number of Malaysians unsure about who to vote for in the next general election rose to 51% in Feb from 37% in Dec, per the latest poll conducted by Invoke Malaysia.
  • Malaysian CPI report comes out later today. BBG consensus forecast is for consumer price inflation to pick up to +1.6% Y/Y in Mar from 1.1% recorded in Feb. Estimates range from +1.0% to +2.1%.
  • The main point of note on next week's docket is trade balance, due Wednesday.

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