Free Trial

Ringgit Steady, Mfg PMI Unchanged In August

MYR

The ringgit is steady in early dealing holding little changed against the USD.

  • USD/MYR prints at 4.6380/4.6425, the pair continues to consolidate in narrow ranges, support came in at the 20-Day EMA this morning after brief pressure.
  • Bulls target the high from 26 June (4.6915), a break through here opens the high from Nov 4 2022 (4.7495). Bears first target the 20-Day EMA (4.6259).
  • August S&P Global Mfg PMI was unchanged in August at 47.8, the index has been contracting since July 2022.
  • Looking ahead, the next risk event is the BNM's monetary policy decision on 7 Sep, no change to policy is expected.

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.