Malaysia To Extend Interstate Travel Ban, Muhyiddin Enjoys Stable Approval

Spot USD/MYR re-opened virtually unchanged at the start to the new week. The pair last trades at MYR4.1083, with bears looking for a break below the nearby 50-DMA at MYR4.1040. This would open up Mar 18 low of MYR4.1020. On the topside, focus falls on MYR4.1313, where the rate topped out on Apr 19.

• Public support for PM Muhyiddin remains high and stable, according to the latest poll from Merdeka Center. Muhyiddin's approval rating slipped to 67% this month from 68% in March, still up from January's 63%. 70% of respondents were satisfied with the gov't's Covid-19 policies.
• Health Min Adham anticipated the need to extend the interstate travel ban beyond Wednesday's expiry date. He told the Star that "there would be no interstate travel until after Hari Raya Aidilfitri," with formal decision expected on Tuesday.
• Umno SecGen Ahmad Maslan urged the gov't to allow the national parliament & state assemblies to reconvene during the state of emergency and warned that investors' confidence may erode "if parliamentary democracy is suspended."
• Malaysia's trade balance, due Wednesday, provides the main point of note on this week's docket.