Free Trial

Ringgit At 6 Month Low

MYR

USD/MYR prints at 4.6180/6220, the pair is ~0.6% firmer today as broader USD/Asia trends dominate.

  • Ringgit is at its lowest level since 11 November, the MYR has weakened ~3.5% in May.
  • Bulls now target the high from 4 Nov at 4.7495. Bears first look to break the 20-Day EMA (4.5130) to turn the tide.
  • Palm Oil Futures have fallen ~12% from their high in early May, losses have been marginally pared and we sit at 3540/50.
  • Looking ahead on the wire tomorrow we have April CPI, the print is expected at 3.3% Y/Y slowing from 3.4% in March.

To read the full story

Close

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.