Friday 29 Mar 2024
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KUALA LUMPUR (April 10): AmBank Research foresees the ringgit (MYR) to trade between its support level of 4.0799 and 4.0871 while the resistance is pinned at 4.1051 and 4.1107.

In his AmBankFXDaily note today, AmBank group chief economist and head of research Dr Anthony Dass said the MYR rose 0.10% to 4.094 against a weaker dollar.

Dass, who is also adjunct professor in economics at University of New England, Sydney, Australia, said local bounce loss 0.15% to 1,641.9. In local bond market, Malaysian Government Securities (MGS) 3-. 7- and 10-year yield were unchanged at 3.390%, 3.700% and 3.785%, respectively while the 5-year MGS yield added 1.5 basis points to 3.570%. Brent loss 0.69% to US$70.61/bbl and WTI skid 0.65% to US$63.98/bbl.

He said oil rallies took a pause after the IMF revised downwards the 2019 global outlook which has lower oil demand outlook.

“The ringgit lost 0.17% to 3.027 against SGD; downed 0.17% to 7.766 against the baht; slid 0.14% to 3,452.6 against the rupiah; but rose 0.04% and 0.15% against the peso and VND to 12.74 and 5,664.4, respectively,” he said.

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