Halister News

(Bloomberg) -- Another negative month for Malaysia’s exports in June could push USD/MYR up toward 200-DMA at 4.1393 in near term, Bloomberg strategist Andrew Robinson writes.

• Nation’s exports likely fell 3.7% y/y, accelerating from 0.9% decline in May, according to median est. in Bloomberg survey; ests. range from -7.4% to +2.5%; data due at noon local time tomorrow
  • Top Bloomberg-ranked forecaster sees a 5.1% y/y decline
• Related data may show imports declined 0.4% y/y and the trade surplus widened to 6b ringgit from 3.26b ringgit: other surveys
• USD/MYR drops 0.5% to 4.0430; above 100-DMA at 4.0159 for past two weeks
• NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.