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CHINA

Investors Prepare For PPI Inflation

MYR

Spot USD/MYR has shed 35 pips in early Asia-Pac trade, playing catch-up with the greenback's moves seen after Malaysian markets closed last Friday, while U.S. NFP print missed expectations. The rate last operates at MYR4.1425.

  • Downside focus falls on the nearby Jun 25 low of MYR4.1423 and a clean break here would open up Jun 17 low of MYR4.1295. Conversely, a rebound above the 100-DMA at MYR4.1625 would shift focus to Aug 30 high of MYR4.1900.
  • Malaysia's Attorney General questioned the need for PM Ismail Sabri to call a vote of confidence to legitimise his government, even as the King asked the Premier to do it "as soon as possible" after his nomination.
  • Bank Negara Malaysia are set to deliver their next monetary policy decision on Thursday. All of the economists surveyed by Bloomberg expect the Overnight Policy Rate to remain on hold.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com