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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

MYR

Spot USD/MYR slipped at the re-open but has failed to return into the descending channel drawn off the 2020 peak. The rate has moved above its 50-DMA & the aforementioned channel top last week and now trades -70 pips at MYR4.0627.

  • Malaysia revised its Covid-19 guidelines for the Chinese Lunar New Year in response to criticisms that the initial rules had been too restrictive. The gov't allowed for traditional reunion dinners involving a maximum of 15 immediate family members living within a 10km radius.
  • Elsewhere, the gov't launched an initiative to move migrant workers to near-empty hotels across the country after concluding that conditions in migrant dormitories have been key sources of fresh infections.
  • Selangor remains atop Malaysia's Covid-19 case list, contributing 43% of new cases on Sunday.
  • A fall through the broken channel top at MYR4.0582 & the 50-DMA at MYR4.0507 would shift focus to the shorter-term channel floor at MYR4.0376. Conversely, a break above Jan 12 high/Feb 5 high/shorter-term channel top at MYR4.0760/67/72 would reignite bullish momentum, exposing Deb 7 high of MYR4.0885.
  • Malaysian industrial output comes out alongside m'fing sales in a few hours' time. Quarterly GDP data & current account balance are due Thursday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com