© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
US TSYS

What Recession?

US TSYS

Eurodollar/SOFR/ Tsy Options Roundup

PIPELINE

Corporate Issuance Over $60B/Wk

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Ringgit Oscillates In Familiar Range, Offshore Impetus In Driving Seat

MYR
BulletEM BulletEmerging Markets

Spot USD/MYR has added 37 pips thus far to last trade at MYR4.4030, with the move driven solely by overnight greenback purchases. The rate still sticks to a tight range, with its ADX trending lower.

  • From a technical standpoint, a move through Jun 14 high of MYR4.4255 could reignite bullish momentum. Bears look for a slide through Jun 17 low of MYR4.3945 before taking aim at May 31 low of MYR4.3643.
  • Palm oil finished lower on Wednesday after meandering through the session, as participants assessed the outlook for production and export of the edible oil.
  • The Agriculture Ministry said it will extend the price cap on poultry chicken to keep a lid on costs of food, walking back on earlier plans to terminate the measure come the end of the month. But the price ceiling will be raised to MYR9.40/kg of standard chicken from MYR8.90/kg, effective Friday.
  • On the data front, focus turns to S&P Global M'fing PMI, due Friday.
156 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Spot USD/MYR has added 37 pips thus far to last trade at MYR4.4030, with the move driven solely by overnight greenback purchases. The rate still sticks to a tight range, with its ADX trending lower.

  • From a technical standpoint, a move through Jun 14 high of MYR4.4255 could reignite bullish momentum. Bears look for a slide through Jun 17 low of MYR4.3945 before taking aim at May 31 low of MYR4.3643.
  • Palm oil finished lower on Wednesday after meandering through the session, as participants assessed the outlook for production and export of the edible oil.
  • The Agriculture Ministry said it will extend the price cap on poultry chicken to keep a lid on costs of food, walking back on earlier plans to terminate the measure come the end of the month. But the price ceiling will be raised to MYR9.40/kg of standard chicken from MYR8.90/kg, effective Friday.
  • On the data front, focus turns to S&P Global M'fing PMI, due Friday.