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Kuala Lumpur Placed Under MCO, BNM Prepare To Deliver MonPol Decision

MYR

USD/MYR has shed 10 pips so far and last trades at MYR4.1195, comfortably within the confines of yesterday's range.

  • Defence Min Ismail Sabri announced that Kuala Lumpur will be placed under MCO from May 7 through May 20, noting that MCO will also be imposed in several areas in Perak, Johor and Terengganu. The newly implemented MCOs will cover next week's Hari Raya celebrations.
  • Vaccine czar Khairy warned that shortages in vaccine supplies may delay the launch of phase three of the national inoculation campaign, scheduled to begin in May.
  • Bank Negara Malaysia are set to deliver their monetary policy decision today. Analysts are unanimous in expecting a stand-pat decision.
  • Elsewhere, industrial output & m'fing sales come out today (pre-BNM), while foreign reserves take focus tomorrow.
  • From a technical perspective, losses past Apr 30 low of MYR4.0877 would open up the 100-DMA at MYR4.0786. Bulls need a clearance of May 4 high of MYR4.1262 before targeting Apr 9 high of MYR4.1454.

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