Ringgit Treads Water, Malaysia Presses Ahead With Reopening

Spot USD/MYR little changed after the reopen, last trades +10 pips at MYR4.1585. Gains past the 100-DMA at MYR4.1772 would allow bulls to set their sights on the 50-DMA at MYR4.1862. On the flip side, a dip through the 200-DMA/Sep 10 low at MYR4.1314/4.1300 would signal that bears are having the upper hand.

• The government outlined their hard-line stance toward anti-vaxxers, with PM Ismail Sabri warning that "those who do not take the vaccine are making life difficult for themselves." Health Min Khairy warned that "life will be difficult" for those who refuse to be jabbed, adding that officials would "continue to impose various difficulties" on them.
• As a reminder, Malaysia on Friday further relaxed Covid-19 curbs and halved the length of the quarantine period for vaccinated foreign visitors to seven days. The government also said that the Klang Valley and Melaka will move to Phase Four of the National Recovery Plan.
• UMNO Pres Zahid noted that the selection of candidates for the upcoming state election in Melaka will be decided jointly by him, UMNO Dep Pres Mohamad and PM Ismail Sabri.
• Malaysian CPI data headline the local economic docket this week. The report will hit the wires on Friday.