KUALA LUMPUR (Oct 30): AmBank Group Research expects teh ringgit (MYR) to trade between its support level of 4.1676 and 4.1735 while the resistance is pinned at 4.1833 and 4.1903.

In his AmBankFXDaily note today, AmBank group chief economist Dr Anthony Dass said the MYR fell 0.06% to 4.180 against the stronger dollar.

He said although the KLCI closed higher by 0.04% at 1,683.7, it continued to record a net foreign outflow of RM71.4 million.

“The local bond market saw the 3-year Malaysian Government Securities (MGS) fell 2 basis points (bps) to 3.695%; 5- and 7-year yield stayed flat at 3.830% and 4.080% while 10-year MGS eased 1.5bps to 4.190%.

“Brent fell by 0.36% to US$77.34/barrel while WTI slipped 0.81% to US$67.04/barrel.

“The MYR traded mix against regional currencies. It slipped 0.07% against the SGD to 3.023, appreciated 0.59% against the Thai baht to 7.963, down 0.03% against the rupiah at 3642.2 but gained 0.06% to 12.83 against the peso,” he said.