FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Ringgit Holds Gains After BNM Decision

MYR

The ringgit has held its earlier gains in the wake of the BNM's decision to keep the OPR at 3.00%. In the accompanying statement, the central bank said that structural reforms will help provide support to the local currency, which at the moment "does not reflect Malaysia's economic fundamentals and growth prospects."

  • Spot USD/MYR trades -15 pips at 4.7400 after ticking to new intraday lows (4.7393) in the wake of the decision. The rate has held a narrow range either side of 4.74 this week, tracking below its descending 50-DMA. Initial support is located at 4.6959, the 200-DMA, followed by Mar 12 low of 4.6750. Meanwhile, a clearance of the 50-DMA at 4.7434 would expose multi-year highs around the 4.80 figure.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.