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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.
MYR
Spot USD/MYR trades -50 pips at MYR4.1547, holding yesterday's range. Early losses seemed driven by overnight greenback sales, albeit firmer crude palm oil prices may have provided some further support to the ringgit.
- Palm oil futures extended their recent rally yesterday amid continued concerns about elevated fuel prices and reports pointing to labour shortages in Malaysia, the world's second-biggest producer of the edible oil.
- Opposition leader Anwar said that the four UMNO defectors who helped bring down the Melaka state government have expressed interest in joining Pakatan Harapan, but have not yet filed formal requests.
- The local data docket is empty today, but Malaysia's CPI will hit the wires on Friday. Headline inflation may have accelerated a tad to +2.1% Y/Y in September from +2.0% prior, according to Bloomberg consensus.
Fig. 1: MYR-Denominated Crude Palm Oil Futures vs. USD/MYR
Source: MNI - Market News/Bloomberg
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.
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