Friday 29 Mar 2024
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KUALA LUMPUR (Jan 15): AmBank Research expects the ringgit  (MYR) to trade between its support level of 4.0847 and 4.0898 while the resistance is pegged at 4.1056 and 4.1134.

In his AmBankFXDaily note today, AmBank group chief economist and head of research Dr Anthony Dass said the MYR fell 0.15% to 4.101.

Dass, who is also adjunct professor in economics at University of New England, Sydney, Australia, said the local bourse fell 0.42% to 1,676.2.

He said in local bond market, 3-year Malaysian Government Securities (MGS) yield added 1.0 basis point (bp) to 3.580% while 5-year yield lost 1.0bp to 3.735%.

“With the new issue of 7-year MGS 07/26, the benchmark stood at 3.890%.

“The 10-year MGS yield remain unchanged at 4.070%. Meanwhile, Brent price fell 2.46% to US$58.99/bbl and WTI dropped 2.09% to US$50.51/bbl due to slower Chinese trade data.

“Meanwhile, MYR gained against all the regional currencies i.e. 0.17% to 3.027 against SGG, +0.40% against rupiah to 3444.2; +0.15% to 12.73 against peso but fell 0.15% against baht to 7.787,” he said.

 

 

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