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Ringgit Rangebound

MYR

Spot USD/MYR has oscillated within a narrow range, last trades flat at MYR4.1888. Bulls look to a move through Jan 19 high of MYR4.1960 before setting their sights on Jan 7 high of MYR4.2175. Bears eye Jan 21 low of MYR4.1820 for initial support and a break here would expose the 200-DMA/Jan 13 low at MYR4.1725/4.1720.

  • Malaysia's ex-PM Muhyiddin said that Perikatan Nasional (PN) is ready for the upcoming Johor state election after the dissolution of state assembly. Muhyiddin noted that the decision to call a snap poll was not consulted with the Johor chapter of PN, even as it was part of the ruling coalition, together with UMNO-led Barisan Nasional.
  • The only point of note on the local docket during the remainder of this week is monthly trade report, due to hit the wires on Friday.

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