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

MYR

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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