USD/MYR trades +90 pips at MYR4.3385,....>

DOLLAR-MYR: USD/MYR trades +90 pips at MYR4.3385, showing little reaction to

local GDP data as of yet. Malaysia's economy expanded by 0.7% Y/Y in Q1, while

consensus was for a 1.0% contraction. BoP current account balance also topped

expectations of +MYR9.0bn, printing at +MR9.5bn. It is worth noting, however,

that GDP growth slowed to the worst pace since 2009.

- Elsewhere, the BNM said they expect a rebound in domestic economy in 2021. The

BNM will conduct MYR liquidity operations and use policy tools to help economic

recovery.

- A break above May 12 high of MYR4.3550 would bring Apr 28 high of MYR4.3733

into view. The next resistance level above comes at MYR4.4032, the high of Apr

22. Bears look for a drop below the 50-DMA at MYR4.3252, which would open up Apr

30 low of MYR4.2890.