Free Trial

Ringgit Rangebound Ahead Of Friday's GDP Report

MYR

Spot USD/MYR sticks close to neutral levels, last sits -5 pips at MYR4.1832. Bears see Feb 4 low of MYR4.1762 as their initial target and a break here would open up Jan 13 low of MYR4.1720. Bulls need a clearance of Jan 27 high of MYR4.2070 before taking aim at Jan 7 high of MYR4.2175.

  • Minister Wan Junaidi revealed that draft legislation preventing party hopping and limiting the Prime Minister's term has been presented to lawmakers for their feedback.
  • In case you missed it, the Electoral Commission has scheduled Johor state election for March 12. Official campaigning will commence on February 26, the nomination day, and will last for two weeks.
  • All eyes are on Malaysia's Q4 GDP & BoP current account balance data, due for release tomorrow. The consensus view is that the economy grew 3.1% Y/Y in the final quarter of 2021, as per Bloomberg survey of analysts.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.