Health Min Warns Hospitals In Hardest Hit States Are Nearing Capacity

Spot USD/MYR has easily digested yesterday's market pressures as onshore trading resumed in Kuala Lumpur after a public holiday. The rate last trades -30 pips at MYR4.1007, still comfortably within the confines of Wednesday's range.

• Health Min Adham urged Malaysians to learn the lesson from India's failures in managing the Covid-19 crisis. He told the Star that while the nationwide occupancy rate for Covid-19 hospitals is just 54%, sites in states most hit by the disease at either at or near full capacity.
• The Perikatan Nasional gov't reiterated its commitment to allowing 18 year olds to vote, but didn't provide any clear timeframe for implementing the reform.
• Bank Negara Malaysia are set to deliver their monetary policy decision next Thursday, but any move on interest rates would be a surprise.
• Data-wise, Monday's Markit M'fing PMI & Thursday's industrial output take focus next week.
• Bears need losses past Apr 27 low of MYR4.0945 before targeting the 100-DMA at MYR4.0767. Bulls look for a rally towards the 200-DMA/Apr 21 high at MYR4.1201/4.1225.