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USD/MYR Lowest Since August, CPI On Tap

MYR

Broader pressure on the USD has weighed on USD/MYR in early dealing this morning as onshore participants digest Thursday's greenback downtick.

  • USD/MYR sits at its lowest level since mid August, last printing at 4.6290/4.6355 ~0.5% lower than yesterday's closing levels.
  • Bears now target a break of the 200-Day EMA (4.6184) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957. Bulls look to break the high from 18 Dec (4.7015) to target the 4.80 handle.
  • On tap this afternoon is November CPI, a downtick in CPI to 1.7% Y/Y from 1.8% Y/Y is expected. Also crossing is the fortnightly foreign reserves.
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