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Growth Data Draws Attention

MYR

Spot USD/MYR trades +52 pips at MYR4.1885 in the wake of overnight greenback purchases powered by hawkish Fed repricing. Bulls look to a move through Jan 27 high of MYR4.2070, which would shift focus to MYR4.2175, which capped gains on Jan 7. Conversely, a slide through Feb 4/200-DMA at MYR4.1762/56 would bring Jan 13 low of MYR4.1720 into play.

  • It is expected that Malaysia's economy returned into growth in the final quarter of 2021, according to Bloomberg consensus forecast. Analysts expect Q4 GDP expansion to print at +3.3% Y/Y after a 4.5% contraction in Q3, with full-year growth projected at +3.4%. The data will hit the wires within a few hours.

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