KUALA LUMPUR (Oct 10): AmBank Group Research expects the ringgit (MYR) to trade between its support level of 4.1463 and 4.1468 while our resistance is pinned at 4.1556 and 4.1580.

In his AmBankFXDaily note today, AmBank group chief economist and head of research Dr Anthony Dass said the MYR fell slightly by 0.06% to 4.158 against the dollar.

He said the KLCI fell 0.09% to 1,774.2 with net foreign outflow of RM124.7 million.

“As for the bond market, the 5-year Malaysian Government Securities ended lower at 3.775% while both 7- and 10-year yields rose 2.0 basis points to 4.020% and 4.125% respectively.

“Crude oil price namely Brent and WTI gained 1.3% and 0.9% to US$85.00/barrel and US$74.96/barrel, respectively as fears grew on supply constraints underpinned by falling Iran exports and hurricane outage.

“The MYR fell against most of its Asean peers, down 0.03% against the Thai baht to 7.925, slipped 0.11% against the peso at 13.038, lower by 0.06% against the Singapore dollar settling at 3.000 but appreciated against the rupiah by 0.08% to 3665.1,” he said.