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Yesterday's upswing in USD/MYR failed to bring about a breach of the 100-DMA, which had earlier limited gains on Sep 8 and Sep 2 and thus provides a significant layer of resistance. With the rate last sitting -5 pips at MYR4.1623, bulls look for a bounce above the 100-DMA, which today kicks in at MYR4.1641. Such a move would shift topside focus to MYR4.1900, which capped gains on Aug 30. Bears need a fall through Sep 10 low of MYR4.1300 to gain some fresh momentum.

  • PM Ismail Sabri told lawmakers that he will allow more economic sectors to reopen as another lockdown has become unfeasible. Defence Min Hishammuddin noted that the government could allow more tourism activity and offer some "low-risk" concessions to Malaysian residents.
  • Opposition leader Anwar clarified that the deal struck by Pakatan Harapan (PH) and the government was a Memorandum of Understanding (MoU) and not a confidence and supply agreement (CSA). He said that PH had earlier rejected a similar offer from former PM Muhyiddin, who insisted on a CSA. Anwar also said that PH never agreed to call of a confidence vote to test the ruling coalition's majority in the Dewan Rakyat.