October 03, 2024 00:17 GMT
MYR: USD/MYR Higher on Safe Haven Flight to Dollar.
MYR
- USD/MYR is up at 4.2055 in Kuala Lumpur morning; versus yesterday's close of 4.1760. A firmer US yield backdrop, coupled with sharp yen losses post yesterday's onshore Malaysia close are contributing to this morning's rise.
- Bloomberg Asia dollar spot index is higher by 0.04% at the open and the Bloomberg Dollar spot index is 0.03% higher.
- USD/MYR one-month implied volatility is down this morning to 6.0375%, versus 6.5075% yesterday’s close.
- Malaysia's 10-year bond yield is 2bp lower in yield at 3.72%
- Malaysia 5 yr USD CDS at 37bps (yesterday close 37bp, 5-year low 32bp in 2020).
Headlines
- Ongoing Middle East tensions on Wednesday were tempered by this week’s EIA report showing an unexpected rise in crude inventories and the largest weekly gain since April. (source: MNI Australia)
- Given this news broke around the same time that OPEC+ affirmed it will not raise output, it was enough to see oil prices retreat in the late session in US time. (source: MNI Australia)
- Palm Oil Jumps the Most in 15 Months on Middle East Tensions (source: BBG)
- Malaysia is expanding oil and gas exploration in the disputed South China Sea despite pressure from Chinese vessels, according to a report from a US think tank (source: BBG)
Data Releases
- None
Government Bond Auction
- None
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