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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

US

'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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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.