KUALA LUMPUR (Oct 22): AmBank Group Research expects the ringgit (MYR) trade between its support level of 4.1517 and 4.1541 while the resistance is pinned at 4.1594 and 4.1615.

In his AmBankFXDaily note today, AmBank group chief economist and head of research Dr Anthony Dass said the MYR fell slightly by 0.01% to 4.157 against the US dollar.

He said the KLCI fell 0.15% to close at 1,732.14 with a net foreign outflow of RM35.0 million.

Dass said in the local bond space, the 3-year Malaysian Government Securities yields gained 2 basis points (bps) to 3.640%, 5-year yield rose 1.0bps to 3.795% while both 7- and 10-year yields added 1.0bps to 4.025%, and 4.145%.

“Both Brent and WTI prices rose 0.62% and 0.68% to US$79.78/barrel and US$69.12/barrel respectively.

“The MYR ended lower against its regional currencies. It lost 0.47% against PHP to 12.91, down 0.06% against rupiah to 3,655.2, and 0.22% lower to close at 7.838 against the baht.

“But Ringgit closed higher by 0.09% against SGD to close at 3.015,” he said.