KUALA LUMPUR (July 10): Ringgit trades within a narrow range as upcoming global event risks keep investors on the sidelines.

* USD/MYR steady at 4.1420 vs range of 4.1420-4.1475

** Support 4.1229, 4.1065, 4.0930; resistance 4.1545, 4.1840, 4.1935

** NOTE: China CPI due Wednesday, Fed Chairman Jerome Powell will testify before Congress on Wednesday and Thursday

* Ringgit has been fairly resilient in July in the face of a resurgent USD and is likely to trade within the 4.1370-4.1580 band for now, says Khoon Goh, head of research at Australia & New Zealand Banking Group in Singapore

** Foreign funds returned to Malaysian assets in June and this will likely continue in July, helping to limit the impact of a stronger dollar on MYR

* 10-year govt bond yield is steady at 3.64%

* BNM held the benchmark rate at 3% on Tuesday, and flagged risks to growth including worsening trade tensions and weakness in commodity-related sectors

* BNM may deliver a 25bp rate cut at its Sept. 12 review as recent dovish policy tilt in developed markets and risks to growth pave the way for an easing in the region, according to note from JPMorgan

** Expects Malaysia GDP to expand 4.3% in 2019, lower end of BNM’s forecast range

* Govt is studying four proposals it received to either buy a stake in Malaysia Airlines or to manage the carrier, PM Mahathir Mohamad said Tuesday

* Govt has resumed the second phase of a RM4.48b double track rail project with 15% cost savings compared to original contract: Transport Minister Anthony Loke