Muted Start; Trade Balance, CPI Headlines Week's Docket

It's been a muted start to the week for the Ringgit on Monday, USD/MYR is little changed from Friday's closing levels in early dealing.

• On Friday USD/MYR finished ~0.2% lower, the pair couldnt sustain a move through the 4.60 handle and pared losses to finish the week at 4.6150.
• Technically the uptrend remains in place, bulls now target the high from 26 May at 4.6398 a break through here open 4.70. Bears first look to break the 20-Day EMA (4.5929) to turn the tide.
• Palm Oil futures are ~0.5% firm on Monday, this comes after a 6.7% rise on Friday which was the largest daily increase since December. The rally was driven by a rally in Soybean Oil and signs of improving demand in India, more here.
• Global Investors sold $4.9mn of local equities on Friday bringing the total last week to an outflow of $41mn.
• On the wires tomorrow we have May Trade Balance, a surplus of MYR13.40bn is expected. On Thursday June 1 Foreign Reserves cross, there is no estimate and the prior read was $112.7bn. Friday's May CPI print headlines the week, CPI is expected to tick lower to 3.0% Y/Y from 3.3%.