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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.
MYR
Spot USD/MYR remains happy to hold a tight range just shy of its 50-DMA and last trades -15 pips at MYR4.0402, whoing little reaction to yesterday's CPI report.
- Malaysian deflation decelerated more than expected in Jan, as CPI printed at -0.2% Y/Y vs. projections of -0.8%.
- core inflation came in at +0.7% Y/Y
- transportation costs dipped 5.1% Y/Y and are set to remain subdued after the gov't capped retail fuel prices earlier this month
- food and non-alcoholic beverages prices helped restrain headline deflation as they rose 1.5% Y/Y
- headline CPI was negative for the 11th straight month
- Malaysian Covid-19 vaccination campaign officially kicked off yesterday, two days ahead of schedule, with PM Muhyiddin receiving the first jab. In the first phase of the vaccine rollout, 500,000 front-liners and teachers with co-morbidities will be inoculated through April.
- The King pushed back against claims that the emergency proclamation prevents parliament from sitting and noted that the assembly can convene at a suitable time, on the advice of the PM.
- Bears eye Feb 16 low of MYR4.0260 for initial support and a break below there would open up Jan 4 cycle low of MYR3.9957. Meanwhile, should bulls manage to force a clean break above the 50-DMA at MYR4.0434, they would be able to take aim at Feb 10 high of MYR4.0680.
- Looking ahead, Malaysia reports its Jan trade balance on Friday.
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.
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