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Ringgit Falls In Early Dealing, Docket Light This Week

MYR

The Ringgit is marginally pressured in early dealing, USD/MYR is up ~0.2% and remains well within recent ranges.

  • Last week the pair consolidated recent gains in a narrow 4.64/66 range, there was little follow through on moves as broader USD trends dominated flows.
  • Bulls target the high from 26 June (4.6915), a break through here opens the high from Nov 4 2022 (4.7495). Bears first target the 20-Day EMA (4.6203).
  • A reminder that on Friday July CPI printed at 2.0% Y/Y, a print of 2.1% had been expected, the prior read was 2.4% Y/Y.
  • August S&P Global Mfg PMI on Friday is the only data due this week as the data calendar is light.
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