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Fresh YTD High For USD/MYR, Trade Balance On Tap


USD/MYR prints at 4.5450/5550, pair rose ~0.3% yesterday printing its highest level since 24 Nov 2022.

  • MYR was pressured yesterday as US Treasury Yields rose boosting the USD. Palm Oil futures fell a further ~1.3% on Thursday and are down ~5% this week although losses have been marginally pared this morning.
  • Bulls now target the high from 15 Nov at 4.5955. Bears first look to break the 20-Day EMA (4.4781) to turn the tide.
  • Apr Trade Balance is on the wires in just under one hour, a surplus of MYR21.20bn is expected.

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