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 Keeps Weakening, Malaysia's Foreign Reserves Edge Higher

MYR

Bullish momentum remains behind spot USD/MYR which printed new cyclical highs this morning. The pair last operates +28 pips at MYR4.4888 as hawkish Fed positioning ahead of the Jackson Hole symposium applied pressure to emerging Asian FX.

  • The next topside technical target is provided by Jan 4, 2017 high of MYR4.5002. Conversely, bears eye the 50-DMA (MYR4.4387) for initial support.
  • Palm oil futures re-opened on a firmer footing as the new week got underway, trimming some gains as the Monday session progressed. Data from cargo surveyor SGS showed that Malaysia's palm oil exports fell 0.8% M/M in the first 20 days of the month (versus +9.1% reported by Intertek and -3.8% reported by AmSpec Agri).
  • Malaysia's foreign reserves grew to $110.9bn in the two weeks through Aug 15 from $109.2bn prior, extending its rebound from multi-month lows recorded in mid-July.
  • Participants look ahead to the release of monthly CPI data this Friday.
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.