Free Trial

Ringgit Goes Offered Upon Return From Holiday


Spot USD/MYR last sits at MYR4.1590, 50 pips higher on the day, as local markets reopened after a market holiday. The rate printed a fresh two-week high at MYR4.1597 earlier this morning.

  • Bulls would be pleased by further gains past the 50-DMA at MYR4.1672 and towards Oct 18 high of MYR4.1720. On the flip side, a pullback under Oct 29 low/200-DMA at MYR4.1392/84 would bring Sep 10 cycle low of MYR4.1300 into view.
  • The King signed off on PM Ismail Sabri's advice to terminate the state of emergency in Sarawak, opening the path to a delayed state election there. The emergency will expire on Feb 2, with voters set to cast their ballots within 60 days from that date.
  • In case you missed it, Bank Negara Malaysia held the Overnight Policy Rate unchanged at 1.75% at its final monetary policy meeting this year, as had been expected by virtually all analysts.
  • Malaysia's economic docket for next week includes industrial output (Tuesday) as well as BoP current account balance & GDP (Friday).

To read the full story



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.