Free Trial

Ringgit Gives Away Gains

MYR

Spot USD/MYR has clawed back its marginal opening loss and last operates at MYR4.1853, barely changed on the day. Bulls look to a move through Feb 14 high of MYR4.1945 before targeting Jan 27 high of MYR4.2070. Conversely, losses past the 200-DMA at MYR4.1788 would shift focus to Feb 4 low of MYR4.1762.

  • Worth noting that palm oil futures surged to an all-time high Tuesday as the escalating Russia-Ukraine crisis raised the prospect of disruptions in the vegetable oil market (parties to that conflict make up around 80% of the world's sunflower oil supplies).
  • Reminder that Malaysia's Department of Statistics will publish January CPI data tomorrow. The consensus view is that inflation eased to +2.5% Y/Y from +3.2% recorded in December.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.