KUALA LUMPUR (Sept 14): Ambank Group Research expects the ringgit’s (MYR) support level of 4.1369 and 4.1392, while the resistance holds at 4.1467 and 4.1495.

In his AmBankFXDaily note today, AmBank group chief economist and head of research Dr Anthony Dass said MYR rose by 0.06% to 4.415 against the weaker dollar as risk appetite permeates in Emerging Markets space.

He said the KLCI closed 0.41% higher at 1792.6 with a net inflow of foreign funds of RM174.7 million.

“In the local bond space, the yields for 5-, 7- and 10-year Malaysian Government Securities fell 2.5 basis points (bps) to 3.815%, 5.0bps to 4.025%, and 5.0bps to 4.120%, respectively.

“Meanwhile, the oil price namely WTI and Brent fell by 2.53% to US$68.59/barrel and 1.96% to US$78.18/barrel after Aug OPEC monthly report signaled that global supplies hit a record of 100 million barrels per day added with concerns on Hurricane Florence.

“MYR performed mixed against regional currencies ie. Singapore dollar by 0.31% to 3.022, baht by 0.26% to 7.869 but strengthened against rupiah by 0.12% to 3581.1 and peso by 0.07% to 13.05. Chinese Yuan strengthened against the dollar by 0.1% to 6.845,” he said.