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Local Drivers Sparse

MYR

Spot USD/MYR re-opened lower, catching up with greenback losses seen after onshore markets closed on Monday. The rate last sits at MYR4.1405, 52 pips lower on the day.

  • A break below the 50-DMA at MYR4.1251 would encourage bears to target the 200-DMA, which intersects at MYR4.1101. Conversely, a clearance of yesterday's high of MYR4.1497 would turn focus to Mar 31 cycle high of MYR4.1590.
  • Local news flow has been dominated by reports surrounding a collision between two LRTs in Kuala Lumpur, which left over 200 passengers injured. PM Muhyiddin has ordered a probe into the incident.
  • Malaysia extended quarantine period for Malaysians entering the country from Sri Lanka, Bangladesh, Nepal and Pakistan to 21 days from 14 days.
  • Looking ahead, Malaysian trade balance comes out on Friday.

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