Free Trial

Firmer In Early Trade, BNM Due This Week

MYR

The Ringgit has opened dealing firmer on Monday, USD/MYR is ~0.5% lower. According to RBC, link here, authorities may have stepped in to reign in the currency’s weakness.

  • The pair sits at 4.7540/65, the lowest level in ~2 weeks.
  • On the downside bears look to first break the 20-Day EMA (4.7492) which opens the low from 2 Oct (4.6900). The pair remains in an uptrend and bulls target a break of the 4.80 handle.
  • S&P Global Mfg PMI for October is due on Wednesday. On Thursday the latest monetary policy decision from the BNM rounds off the week.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.