Free Trial

Ringgit Extends Losses, CPI On Tap

MYR

The Ringgit has extended losses on Friday and sits at its lowest level since 1998, a fresh cycle high for USD/MYR has been printed.

  • USD/MYR has breached the 4.78 handle as rate differentials weigh on the Ringgit this morning. The pair is ~6.5% above levels seen in late July.
  • Bulls now target 4.7973, a Fibonacci projection. On the downside bears look to first break the 20-Day EMA (4.7264) which opens the low from 2 Oct (4.6900).
  • September CPI is on tap this morning, and is expected to tick higher to 2.1% Y/Y from 2.0%.

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.