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Ringgit Tad Firmer After Long Weekend

MYR
BulletEM BulletEmerging Markets

Light headwinds for spot USD/MYR as onshore markets re-open after a long weekend. The rate last changes hands at MYR4.3942, down 45 pips on the day. The initial bearish target is provided by May 5 low of MYR4.3337, while bulls set their sights on May 13 cycle high of MYR4.3987, followed by Apr 22, 2020 high of MYR4.4032.

  • Note that UMNO amended its constitution on Sunday to allow party leadership polls to be delayed by up to half a year after every general election, even if the terms of officers have expired.
  • Looking ahead, Malaysia's monthly trade report will hit the wires on Thursday.
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Light headwinds for spot USD/MYR as onshore markets re-open after a long weekend. The rate last changes hands at MYR4.3942, down 45 pips on the day. The initial bearish target is provided by May 5 low of MYR4.3337, while bulls set their sights on May 13 cycle high of MYR4.3987, followed by Apr 22, 2020 high of MYR4.4032.

  • Note that UMNO amended its constitution on Sunday to allow party leadership polls to be delayed by up to half a year after every general election, even if the terms of officers have expired.
  • Looking ahead, Malaysia's monthly trade report will hit the wires on Thursday.