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Little Changed On Wednesday, Trade Surplus Stronger Than Expected

MYR

USD/MYR prints at 4.43/44, the pair is little changed from yesterday's closing levels.

  • Marchs Trade Balance printed at a surplus of MYR26.69bn, this was a stronger print than the expected MYR20.60bn. Imports fell -1.8%, a rise of 2.2% had been expected, and exports fell -1.4% less than the expected fall of 1.9%.
  • From a technical perspective we sit a touch above the 200-Day EMA (4.4295). Bears target low from 14 March at 4.3828, bulls look to first break 4.5 handle.
  • Looking ahead, March CPI is on the wires tomorrow, a rise of 3.6% Y/Y is forecast, softening a touch from the 3.7% observed in February.
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