AmBank Research expects ringgit to trade between 4.2261 and 4.2429 today vs USD

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KUALA LUMPUR (Oct 10): AmBank Research expects the ringgit (MYR) to trade between 4.2261 and 4.2429 today, and said the relative strength index still remains in the stable region while the positive MACD is narrowing.

In its AmBankFXDaily note today, the research house said yhe MYR rose by 0.12% to 4.232 against the dollar as the FBM KLCI closed marginally higher at 1,764.03 though the 5-year Malaysian Government Securities (MGS) registered no yield change at 3.600% while the 10-year MGS gained 0.5 basis points to 3.920%.

“Both WTI (+0.49%, US$49.53) and Brent (+0.07%, US$55.66) closed higher due to a supply disruption caused by a production freeze in the Gulf of Mexico brought about by Hurricane Nate.

“Meanwhile, the 5-year CDS gained by 0.65bps to 65.78,” it said.