Ringgit May Rise on Trade Surplus Beating 1-Year Average: Charts
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- USD/MYR could extend this week’s decline if September trade surplus exceeds one-year average, as forecast by economists, Bloomberg strategist Mark Cranfield writes.
Alert: HALISTER1- Pair is trading below trend line drawn from Oct. 13 high at 4.2242, with MACD falling toward zero line; chart here
- Trade data due 12pm on Nov. 4
- Median est. in Bloomberg survey sees surplus rising to 8.90b ringgit from 8.51b in August; 12-month avg is 7.69b ringgit; click here for trend
- USD/MYR down 0.1% at 4.1835
- NOTE: Mark Cranfield is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Source: BFW (Bloomberg First Word)
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UUID: 7947283