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Ringgit Slips In Holiday-Thinned Trade

MYR

Spot USD/MYR operates +35 pips at MYR4.2355 as Omicron jitters lend support to the pair. Bulls need a break above Nov 26 high of MYR4.2490 before taking aim at Jun 29, 2020 high of MYR4.2955. Conversely, a fall through Dec 1 low of MYR4.2000 would turn focus to the 100-DMA at MYR4.1892.

  • A Kuala Lumpur holiday limits liquidity across MYR crosses today, albeit local FX, money and bond markets remain open. Bursa Malaysia is shut.
  • Looking ahead, Malaysia's Dept of Statistics will publish monthly industrial output data next Friday.

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