Thursday 25 Apr 2024
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KUALA LUMPUR (Sept 19): Ringgit trades near a 10-month low before a report that’s expected to show inflation growth eased further last month.

* USD/MYR steady at 4.1430; reached 4.1535 last week, highest since November

** Support 4.0900, 4.0847, 4.0413; resistance 4.1535, 4.1645, 4.2437

* Near-term key level for USD/MYR remains at 4.15 as the ringgit maintains a gradual descent against the greenback in line with regional FX, says Mingze Wu, FX trader at INTL FCStone Global Payments in Singapore

* August CPI grew 0.4% y/y vs prev. 0.9%, according to Bloomberg survey ahead of data due noon local time. That would be the slowest since February 2015

* 10-year govt bond yield rose 3bps to 4.14% Tuesday

* Govt to auction RM3b of 2028 bonds on Thursday

* EM bonds offer investors a “very good entry point” and oil exporters such as Malaysia have improving fundamentals, according to Sergio Trigo Paz, the London-based head of emerging-market debt at BlackRock

* Companies in Southeast Asia are seeing an increase of new orders and production moves as firms reconsider their business in the U.S. and China amid the trade war, according to a survey by AmCham China and AmCham Shanghai

* Malaysia’s real private consumption growth will quicken to 8.5% in 2018 from 7% last year due to populist policies introduced by new govt: Fitch Solutions Macro Research

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