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Malaysia To East Curbs In Kuala Lumpur, BNM Expected To Stand Pat

MYR

Spot USD/MYR added 28 pips in early trade and last trades at MYR4.1540, even as Malaysia yesterday announced the loosening of Covid-19 restrictions in the Klang Valley. The latest monetary policy decision from Malaysia's central bank is eyed today.

  • Bank Negara Malaysia are widely expected to leave the Overnight Policy Rate unchanged today. Please refer to our comprehensive preview and a State of Play piece from our policy team for more details.
  • Later this week, the Department of Statistics will publish the latest industrial output data on Friday, with BBG consensus looking for a -0.7% Y/Y print.
  • PM Ismail Sabri announced that the entire Klang Valley, which includes the capital Kuala Lumpur, the administrative centre of Putrajaya and the state of Selangor, will move the Phase 2 of the National Recovery Plan on Friday. The government is also set to allow Labuan to welcome domestic tourists from Sep 16.
  • UMNO nominated its SecGen Ahmad Maslan, who faces money-laundering charges, to become a new Deputy Speaker in the Dewan Rakyat. The decision to nominate Ahmad drew the ire of some opposition MPs.
  • From a technical perspective, a jump above the 100-DMA at MYR4.1631 would allow bulls to take aim at Aug 30 high of MYR4.1900. Conversely, a retreat under Sep 6/Jun 25 lows of MYR4.1425/23 would support the bearish case.

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