Forex - Malaysia Flows: USD/MYR testing 4.0800 support, November's industrial production surprised on the upside


 04:21 (GMT) 10 Jan

  [Forex Flows]

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Malaysia Flows: USD/MYR testing 4.0800 support, November's industrial production surprised on the upside (0101-QFZT-C01)

USD/MYR opened flat at 4.0880 on Friday, before dipping to 4.0810, closing in on the 4.0800 support. Ringgit strengthened amid easing risk-off sentiments and stronger than expected Malaysia's industrial production. Industrial production surprised on the upside as it rose to 2.0% y/y in November from 0.3% y/y in October. A break below the 4.0800 support will shift our attention to the 4.0730 and 4.0700 support next. 1M NDFs were trading at 4.0846 at last look. KLCi was down 0.23% at last sight.


Forex - Malaysia Flows: USD/MYR firmly above 4.1000, as risk-off sentiments continue to foster


 02:55 (GMT) 06 Jan

 [Forex Flows]

USD/MYR opened flat at 4.1000, before rising higher to 4.1070 amid drawback in risk appetite as geopolitical tensions between U.S. and Iran continued to escalate. Both nations exchanged more threats and Iraq's parliament voted unanimously to expel U.S. troops from Iraq, if materialised would provide more instability in the region. Upside pressure due to risk-off sentiments remains strong and has outweighed the downside from rising oil prices. We expect pair to eye the 4.1200 resistance next. 1M NDFs rose to 4.1080 at last look. KLCi was down 0.86% at last sight.


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