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Ringgit Little Changed In Early Dealing, CPI Ticked Lower In June


The ringgit is little changed in early dealing on Tuesday, with narrow ranges observed thus far in today's session.

  • USD/MYR prints at 4.5635/65, in line with yesterday's closing levels. On Monday the pair was marginally firmer rising ~0.1%.
  • Bulls target a break of the low from 13 July (4.5822) which opens the 20-Day EMA (4.5961). Bears first target the 200-Day EMA (4.5004).
  • In June CPI ticked lower to 2.4% Y/Y from 2.8% Y/Y. This was in line with market estimates.
  • Foreign investors have bought a net of $110.7 of local equities month to date, this puts July on track to be the first monthly inflow in 2023.
  • The local data calendar is empty for the remainder of the week.

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