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Ringgit Trims Post-NFP Gains, Industrial Production On Tap

MYR

The Ringgit is trimming some of its post-NFP gains on Tuesday, the move higher in USD/MYR has been observed alongside an uptick in US Tsy Yields in the NY session yesterday.

  • USD/MYR prints at 4.6580/4.6630, the pair is ~0.4% higher today.
  • On downside bears now focus on the 200-Day EMA, which comes a touch below the 4.60 handle, at 4.5972. Bulls focus on the 20-Day EMA (4.7425) which opens the 4.80 handle.
  • September Industrial Production is due in just over one hour, a fall of 0.1% Y/Y is expected. The prior read was -0.3% Y/Y.
  • Also due today is Oct 31 Foreign Reserves, there is no estimate and the prior read as $108.9bn.
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