Free Trial

Ringgit Holds Familiar Range, BNM Decision Eyed Tomorrow

MYR

Spot USD/MYR trades -27 pips at MYR4.1488, comfortably within the confines of yesterday's range. A slide past Oct 29 low/200-DMA at MYR4.1392/72 would bring Sep 10 low of MYR4.1300 into play. Meanwhile, should bulls force a break above Oct 28 high of MYR4.1582, they could take aim at the 50-DMA/Oct 18 high at MYR4.1702/20.

  • As a reminder, Bank Negara Malaysia will deliver their monetary policy decision tomorrow. All analysts surveyed by BBG expect policymakers to leave the Overnight Policy Rate unchanged.

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.