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Ringgit Firms In Early Trade, Docket Empty Till Friday

MYR

The Ringgit has ticked higher as onshore participants digest yesterday's downtick in US Tsy Yields which has moderated a touch this morning.

  • USD/MYR is ~0.3% lower today, last printing at 4.6660/90.
  • Bulls look to break the 20-Day EMA (4.6932) to target the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6081) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • A reminder that yesterday Malaysia’s lower house of Parliament voted in favour of the government’s 2024 spending plan, it will now be presented to the Senate.
  • Looking ahead, the local docket is empty until November S&P Global Mfg PMI crosses on Friday.
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