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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

MYR

Spot USD/MYR popped higher at the re-open, but its initial move was fairly limited given that Malaysian markets were closed for a public holiday on Monday. The rate last sits +100 pips at MYR4.0500 in the wake of the greenback's rally at the start to the week.

  • A nationwide survey conducted by Emir Research, a think tank led by a prominent BERSATU member, pointed to a drop in public approval for PM Muhyiddin's government. The proportion of respondents who saw the government as viable dipped to 35% from 43%, with 19% (up from 9%) opining to the contrary.
  • Bulls would be pleased by a clearance of the 50-DMA, intersecting at MYR4.0533, which would shift focus to Jan 12 high of MYR4.0760. Conversely, a fall through Jan 21/29 lows of MYR4.0290/85 would expose Jan 4 cycle low of MYR3.9957.
  • Defence Min Ismail Sabri Yaakob said that PM Muhyiddin chairs a meeting today to decide on the extension of the Movement Control Order (MCO).
  • Nothing much left on the local docket this week, with monthly industrial output & Q4 GDP report providing the main points of note on next week's calendar.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com