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Ringgit Firms In Early Dealing

MYR

The Ringgit is firmer in early dealing as onshore markets digest yesterday's weaker than forecast US data.

  • USD/MYR prints at 4.6355/85 ~0.2% lower in early dealing. The pair now sits ~0.6% below the August high as monthly gains continue to be trimmed.
  • 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 (4.6242).
  • Looking ahead; August S&P Global Mfg PMI on Friday is the only data due this week as the data calendar is light. There is no estimate and the prior read was 47.8.

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