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Ringgit Marginally Firmer, Local Docket Empty On Wednesday

MYR

USD/MYR is ~0.1% softer this morning as the Ringgit pares some of Tuesday's losses.

  • The pair is holding above 4.60 having been unable to sustain a recent break below the handle and last prints at 4.6040/60.
  • Technically the uptrend remains in place, bulls now target the high from 26 May at 4.6398. Bears first look to break the 20-Day EMA (4.5628) to turn the tide.
  • Palm Oil Futures are a touch firmer today, the contract sits ~4% above cycle lows seen on 1 June.
  • The local docket is empty today, on Thursday we have May 3 Foreign Reserves before Industrial Production crosses on Friday.
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