Free Trial

Ringgit Finds Poise Ahead Of BNM Rate Decision

MYR

Spot USD/MYR has retreated and last deals at MYR4.3752, down 93 pips on the day. Bears need a sell-off past May 5 low of MYR4.3337 to get some reprieve. Conversely, bulls look to a rally above Apr 22, 2020 high of MYR4.4032.

  • Malaysia's industrial output for the month of March will be published later today. Manufacturing production is expected to have grown 4.8% Y/Y in March, according to BBG consensus forecast.
  • Bank Negara Malaysia will deliver its monetary policy decision on Wednesday. Majority of analysts expect policymakers to stand pat, but 5 out of 19 economists surveyed by BBG look for a 25bp rate hike (see our preview for more colour).

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.