INSIDE MALAYSIA: Ringgit Gains; 10-Year Bond Sale in Focus
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Ringgit rises ahead of 10-year bond sale which will help to show level of confidence foreign investors have in local currency assets.
Alert: HALISTER1- Malaysia to sell MYR4b of bonds due 2026 today
- Yield on 3.955% govt bond due Sept. 2025 dropped 2.5 bps last week to 3.845%
- WTI crude oil futures +0.8% to $48.14/bbl
- Ringgit up 0.4% to 4.0660 per dollar
- USD/MYR - Moving toward 100-DMA resistance, may close March 16-17 gap
- Resistance: 4.1105, 100-DMA; 4.1175, March 17 high; 4.1315, March 16 low
- Support: 4.0630, May 10 high; 4.0533, May 18 high; 4.0100, May 17 low;
- Five-year credit-protection costs for Malaysia rose 3 bps last week to 161 bps, according to CMA New York data
- Malaysia’s foreign reserves reported unchanged at 97.2b rgt
Source: BFW (Bloomberg First Word)
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UUID: 7947283