Free Trial

Ringgit Trimming August Losses, GDP On Tap

MYR

The Ringgit has trimmed its losses since in August to date, USD/MYR is down ~0.3% and last prints at 4.6405/50.

  • Broader greenback trends continue to dominate flows in the USD/Asia space, the pair is still ~3% above August opening levels.
  • Despite today's move lower we remain in an uptrend. Bulls target a break of the low from 12 July (4.6465) which opens the high from 26 June (4.6915). Bears first target the 20-Day EMA (4.5901).
  • On the wires today Q2 GDP and July Trade Balance are due. GDP is forecasted at 1.1% Q/Q for Q2.

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.