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Ringgit Marginally Softer In Early Trade, Industrial Production On Tap

MYR

USD/MYR prints at 4.43/44, the pair is ~0.1% firmer as the Ringgit follows the broader USD/Asia trend in early dealing.

  • Ranges have been narrow in recent sessions with little follow through on moves, with the pair supported at 4.43 and facing resistance above 4.45.
  • Bears target the low from April 14 at 4.3828, bulls first look to break the high from May 2 at 4.4665.
  • On the wires today we have Mar Industrial Production, the measure is expected to tick lower to 0.7% Y/Y from 3.6% in February. This would be the lowest print since August 2021.
  • The latest Foreign Reserves figures will also cross, the prior cam in at $115.9bn.

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