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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).
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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).