Free Trial

USD/MYR Continues To Consolidate, Industrial Production On Tap

MYR

USD/MYR continues to consolidate in narrow ranges, there have been little follow through on moves in recent dealing.

  • The pair has trimmed some of yesterday's losses alongside an uptick in US Tsy Yields and last prints at 4.7235/60, ~0.2% higher.
  • Technically the uptrend in USD/MYR remains in place, bulls target a break of the YTD high (4.7397) this opens 4.7973 a Fibonacci projection. On the downside bears look to first break the 20-Day EMA (4.7057) to turn the tide.
  • Palm Oil is holding close to lowest level since mid-June, which was printed on Tuesday, as concerns that a recent uptick in Malaysian shipments may wane on demand concerns.
  • On tap today we have August Industrial Production, a fall of 2.0% Y/Y is expected.

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.