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Ringgit Firms In Early Trade, Nov CPI Due On Friday

MYR

The Ringgit has firmed in early dealing today trimming some of its recent losses. USD/MYR remains well within the 4.63/70 range which has persisted for the most part since early November.

  • We last print at 4.6570/4.6610, ~0.4% below yesterday's closing levels.
  • Bulls look to break the high from 18 Dec (4.7015) to target the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6177) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • Looking ahead the local data docket is empty until Friday when November CPI is due. A downtick in CPI to 1.7% Y/Y from 1.8% Y/Y is expected.

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