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Ringgit Weakens In Early Trade, Respects Familiar Range

MYR

Spot USD/MYR reopened on a slightly firmer footing today but remains within a familiar range. The rate last changes hands +48 pips at MYR4.1892, with bulls looking for a move through Sep 21 high of MYR4.1960 towards the 50-DMA at MYR4.2005. Bears would be pleased by a dip through Sep 24 low of MYR4.1760, which would open up the 100-DMA at MYR4.1711.

  • DAP leader said that the institutional reforms agreed upon by PM Ismail Sabri's gov't and the opposition Pakatan Harapan alliance will be brought to parliament by March 2022.
  • Meanwhile, the Dewan Rakyat will discuss the number of workers who lost their jobs since the implementation of the Movement Control Order (MCO).
  • Participants look ahead to the release of Malaysia's Markit M'fing PMI on Friday.
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