Forex - Malaysia Flows: Ringgit stable as CPI eyed this week


 02:45 (GMT) 22 Jul

  [Forex Flows]

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Malaysia Flows: Ringgit stable as CPI eyed this week (0101-MRXS-C01)

USD/MYR moved slightly higher to 4.1170 this morning after opening flat at 4.1120 but traded quietly despite upside pressures from Fed commentators trying to curb expectations of a 50bps cut and weak South Korea export data this morning signaling another month of export weakness for Asia. Pair however eyed the foreign reserve data due later today and the June CPI due on Wednesday to gauge BNM stance. Resistance at 4.120 will only come into view upon strong oil move lower or worsening trade situation. Expect 4.1040 support to be threatened. 1M NDFs traded higher to 4.1100 from lows of 4.1023 on Friday. KLCi was down by 0.26% at last sight.


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