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Free AccessMalaysia To Launch Covid Immunisation Campaign Two Days Ahead Of Schedule
Spot USD/MYR has edged lower in early trade after USD showed some weakness ahead of the weekend. The rate last trades -22 pips at MYR4.0400.
- A deeper slide through Feb 16 low of MYR4.0260 would bring Jan 4 cycle low of MYR3.9957 into view. On the flip side, a clean break above the 50-DMA at MYR4.0447 would open up Feb 10 high of MYR4.0680.
- Palm oil futures retreated last Thursday, as Malaysia kept its export tax rate at the maximum level of 8%, but stabilised on Friday, posting a weekly gain. Focus turns to output data for the first 20 days of the month. Amspec data released on Saturday saw exports rise 10.3% M/M in that period, with SGS Malaysia report due today & MPOA data due later in the week.
- The first batch of Covid-19 jabs arrived in Malaysia on Sunday, allowing the country to begin its inoculation campaign on Feb 24, two days ahead of schedule. Front-line workers will be prioritised in the initial phase of Malaysia's National Immunisation Programme.
- BNM will release its weekly update on foreign reserves later today. Malaysian CPI comes out on Wednesday and trade balance is due Friday.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.