HALISTER1: INSIDE MALAYSIA: Ringgit Gains; Industrial Output Seen Slowing

INSIDE MALAYSIA: Ringgit Gains; Industrial Output Seen Slowing

(Bloomberg) -- Ringgit rises 0.4% to 4.1038 per dollar; Malaysia’s industrial output probably grew 1.0% y/y in Dec. versus +1.8% in Nov., according to median estimate in Bloomberg survey.
  • Industrial production figure hurt by unfavorable base effect and weak mining activity, Nomura writes in note received yesterday
    • Data due at noon local time
  • PM Najib asks ministers to spend prudently, according to official blog post
  • Pivot point at 4.1393; USD/MYR support at 4.0976, 4.0768, 4.0143; resistance at 4.1601, 4.2018, 4.2643
  • USD/MYR slow stochastics %K at 11, level last seen in April 2015
  • Ringgit 1-mo. NDF little changed at 4.1200
  • Brent crude rose 1.7% yesterday to $30.84/bbl
  • Five-year credit-protection costs for Malaysia declined 8 bps to 192 bps yesterday: CMA data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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