October 14, 2024 00:30 GMT
MYR: USD/MYR Higher at the Open as Slower Pace of US Rate Cuts Expected.
MYR
- USD/MYR is up at 4.2985 in Kuala Lumpur morning; versus Friday's close of 4.2887. A softer yuan backdrop amid stimulus disappointment from the weekend is also likely weighing on rinngit.
- Bloomberg Asia dollar spot index is flat at the open and the Bloomberg Dollar spot index is 0.10% higher.
- USD/MYR one-month implied volatility is up this morning to 7.5675%, versus 7.2325% Friday’s close.
- Malaysia's 10-year bond yield is at 3.796%
- Malaysia 5 yr USD CDS at 37bps (yesterday close 37bp, 5-year low 32bp in 2020).
Headlines
- The government will only implement a broad-based goods and services tax in a few years if the minimum monthly wage increases to the 3,000-4,000 ringgit level, according to discussions with Prime Minister Anwar (source: Bernama).
- Malaysia and the United Arab Emirates successfully concluded negotiations on a deal that will enhance trade between the two nations, according to Malaysia’s Investment, Trade and Industry Ministry (source: BBG).
- Malaysia's palm oil stockpiles rose to 2.01m tons in September from revised 1.883m tons in August, according to Malaysian Palm Oil Board (source: BBG).
Data Releases Today
- None
Data Releases Week Ahead – 18 October.
- Exports YoY
- Imports YoY
- Trade Balance MYR
- GDP YoY
Government Bond Auction
- Malaysia to Sell MYR4.5 Billion 2034 Bonds
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