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Fresh YTD High For USD/MYR, CPI On Tap

MYR

USD/MYR prints at 4.6370, the pair is ~0.25% firmer today.

  • The pair has printed a fresh high for 2023 and is at its highest level since 11 Nov. MYR has lost ~4% so far in May.
  • Palm Oil futures have softened today, down ~0.2% thus far unwinding some of the 1% gain seen yesterday. We sit ~12% below early May highs.
  • Bulls now target the high from 4 Nov at 4.7495. Bears first look to break the 20-Day EMA (4.5255) to turn the tide.
  • On the wires at the top of the hour we have April CPI, a rise of 3.3% is expected with inflation ticking lower from the prior read of 3.4%.

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