© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
USD

Some downside continuation

OIL

Russian Crude to Asia Easing in June

BONDS

A busy early start

REFINING

OMV's Schwechat Refinery Out Till Q3

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Cabinet Meeting Brought Forward, CPO Export Tax Kept Unchanged

MYR
BulletEM BulletEmerging Markets

Spot USD/MYR trades flat at MYR4.3890 as we type, with bulls setting their sights on May 19 high of MYR4.4085. A break here would shift focus to Mar 23, 2020 high of MYR4.4490. On the flip side, a slide through May 12 low of MYR4.3730 would bring May 5 low of MYR4.3337 into play.

  • PM Ismail Sabri will bring forward the weekly Cabinet meeting to later today from Wednesday, Bernama reported. Ministers will discuss food supply issues and the rising costs of living.
  • Malaysia's Commodities Ministry Zuraida Kamaruddin said that her "ministry does not expect a big downward adjustment to CPO prices as the market is well aware that [Indonesia's export] ban was always going to be temporary."
  • Note that last week Malaysia kept crude palm oil export tax at 8%, despite earlier suggestions that a 2-4ppt cut was being discussed (although the timing of its implementation was not given).
  • Malaysia's inflation data is due Wednesday, with headline CPI expected to have accelerated to +2.3% Y/Y in April from +2.2% prior.
167 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Spot USD/MYR trades flat at MYR4.3890 as we type, with bulls setting their sights on May 19 high of MYR4.4085. A break here would shift focus to Mar 23, 2020 high of MYR4.4490. On the flip side, a slide through May 12 low of MYR4.3730 would bring May 5 low of MYR4.3337 into play.

  • PM Ismail Sabri will bring forward the weekly Cabinet meeting to later today from Wednesday, Bernama reported. Ministers will discuss food supply issues and the rising costs of living.
  • Malaysia's Commodities Ministry Zuraida Kamaruddin said that her "ministry does not expect a big downward adjustment to CPO prices as the market is well aware that [Indonesia's export] ban was always going to be temporary."
  • Note that last week Malaysia kept crude palm oil export tax at 8%, despite earlier suggestions that a 2-4ppt cut was being discussed (although the timing of its implementation was not given).
  • Malaysia's inflation data is due Wednesday, with headline CPI expected to have accelerated to +2.3% Y/Y in April from +2.2% prior.