Free Trial
FOREX

USD Offered To Start The Week

AUDNZD

Goldman: Stay Long Into CPI Reports

US TSYS

Muted Start

JGBS

BoJ Dec Minutes & 5-Year Op Results Eyed

AUSSIE 10-YEAR TECHS

(H3) Extends Spell of Strength

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Ringgit Close To Neutral Levels, Trade Data Due

MYR

Spot USD/MYR changes hands at MYR4.5455, barely above neutral levels. The rate pierced the 100-DMA (today at MYR4.5441) in the last two days and a clean break would open up the MYR4.50 mark. Conversely, bulls look for a rebound above the 50-DMA, which kicks in at MYR4.6375.

  • The RSI has moved into oversold territory, suggesting that the recent pullback from multi-year highs might be overextended.
  • Palm oil futures for January delivery fell for the third consecutive day Wednesday, extending losses in after-hours trade before finding support in the 50-DMA. Ringgit appreciation and weaker prices of rival soyoil applied some pressure to palm oil.
  • Malaysia's trade surplus may have moderated to MYR29.85bn in October, according to economists surveyed by Bloomberg. Trade surplus reached an all-time high of MYR31.71bn in September on the back of strong manufacturing and mining exports.
  • Recent opinion polls showed the main opposition Pakatan Harapan bloc taking the lead over PM Ismail Sabri's Barisan Nasional. Still, the fragmentation of Malaysia's political scene and the idiosyncracies of its electoral system obstruct reliable electoral forecasting.
171 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Spot USD/MYR changes hands at MYR4.5455, barely above neutral levels. The rate pierced the 100-DMA (today at MYR4.5441) in the last two days and a clean break would open up the MYR4.50 mark. Conversely, bulls look for a rebound above the 50-DMA, which kicks in at MYR4.6375.

  • The RSI has moved into oversold territory, suggesting that the recent pullback from multi-year highs might be overextended.
  • Palm oil futures for January delivery fell for the third consecutive day Wednesday, extending losses in after-hours trade before finding support in the 50-DMA. Ringgit appreciation and weaker prices of rival soyoil applied some pressure to palm oil.
  • Malaysia's trade surplus may have moderated to MYR29.85bn in October, according to economists surveyed by Bloomberg. Trade surplus reached an all-time high of MYR31.71bn in September on the back of strong manufacturing and mining exports.
  • Recent opinion polls showed the main opposition Pakatan Harapan bloc taking the lead over PM Ismail Sabri's Barisan Nasional. Still, the fragmentation of Malaysia's political scene and the idiosyncracies of its electoral system obstruct reliable electoral forecasting.