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Ringgit Firmer On Friday

MYR

The Ringgit has firmed on Friday as onshore participants digest lower US Tsy Yields on Thursday.

  • USD/MYR is ~0.3% lower and last prints at 4.7720/60.
  • On the downside bears look to first break the 20-Day EMA (4.7481) which opens the low from 2 Oct (4.6900). The pair remains in an uptrend and bulls target a break of the 4.80 handle.
  • Looking ahead, the next release of note is next Wednesday's S&P Global October Mfg PMI. Next Thursday we have the latest BNM monetary policy decision, no change is expected.

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