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Malaysia's Covid-19 Situation Improves, Further Reopening Steps Outlined

MYR

Spot USD/MYR trades +17 pips at MYR4.1523, holding a familiar range so far. Bulls look to further gains past Oct 18 high of MYR4.1720, which would clear the way to the 100-DMA at MYR4.1779. Conversely, a fall through Oct 22 low of MYR4.1490 would give bears a green light for targeting the 200-DMA at MYR4.1334.

  • PM Ismail Sabri outlined further steps in Malaysia's reopening plan after hours Friday. Foreign visitors will be allowed to enter the tourist resort of Langkawi without quarantine from Nov 15 under a pilot tourism bubble scheme. Meanwhile, Johor and Terengganu have been moved to the final phase of the National Recovery Plan today.
  • Malaysia's daily Covid-19 case count fell to 5,666 on Sunday, the lowest level since end-Jun.
  • PAS Dep Pres Tuan Ibrahim told reporters that PAS, UMNO and Bersatu are in talks to prevent three-way contests in the upcoming Melaka state election.
  • Looking ahead, Malaysia's trade balance will hit the wires on Thursday.

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