Thursday 28 Mar 2024
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SINGAPORE (June 21): Malaysian ringgit falls against the dollar after running into technical resistance at the currency pair’s 200-displaced moving average (DMA). 

Ringgit is still poised to advance on week, buoyed by a dovish Fed and rising oil prices.

* USD/MYR +0.2% to 4.1550; FX pair set to decline 0.3% on week

* The Federal Reserve’s dovish tone in its latest policy statement will probably lead emerging-market central banks to deliver more rate cuts, supporting asset gains for now, but any sustainable increases will be unlikely due to the prolonged trade tensions, some analysts and traders say

* Malaysian Anti-Corruption Commission will hold a media briefing at 10am on the latest legal action linked to the 1MDB case

* Nation’s foreign reserves data due today, prior $102b

* Prime Minister Mahathir Mohamad said there’s “no proof” Russia is to blame for the 2014 downing of Malaysia Airlines Flight 17 over eastern Ukraine

* Country sold RM1.5b of 182-day bills Thursday, average yield was 3.063%

* 10-year govt bond yield steady at 3.66%

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