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MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

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Firmer Start, Trade Balance On Tap

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The Ringgit has opened dealing firmer on Monday as broad based USD flows dominate in early trade on Monday

  • USD/MYR sits at 4.67/40 ~0.2% below Friday's closing levels.
  • Bulls look to break the 20-Day EMA (4.7028) to get the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6040) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • Today we have October Trade Balance, a surplus of MYR21.65bn is expected.
  • Further out we have fortnightly Foreign Reserves on Wednesday and October CPI rounds off the docket on Friday. CPI is expected to hold steady at 1.9% Y/Y.
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The Ringgit has opened dealing firmer on Monday as broad based USD flows dominate in early trade on Monday

  • USD/MYR sits at 4.67/40 ~0.2% below Friday's closing levels.
  • Bulls look to break the 20-Day EMA (4.7028) to get the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6040) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • Today we have October Trade Balance, a surplus of MYR21.65bn is expected.
  • Further out we have fortnightly Foreign Reserves on Wednesday and October CPI rounds off the docket on Friday. CPI is expected to hold steady at 1.9% Y/Y.