[Back]   [Comments]  [Print]

NEWS ADMIN

DATE

13/03/2019

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Edge Markets

CATEGORY

HEADLINE

Ringgit consolidates near support from 200-DMA

The Edge Markets (13/03/2019) - SINGAPORE (March 13):  Malaysia’s ringgit is consolidating above support from its 200-day moving average that has capped any weakness since the middle of last month.

* USD/MYR is little changed at 4.0830 after falling 0.2% on Tuesday; 200-DMA is at 4.1022

* Malaysia drew 324.7b yen of demand for 200b yen of samurai bonds in bond offer completed last week, Finance Minister Lim Guan Eng said Tuesday. Bid-to-offer ratio of 1.6 shows the confidence of overseas investors in the country, he said 

* Former Goldman Sachs Group bankers Tim Leissner and Roger Ng were banned from the industry by the U.S. Fed on Tuesday for their role in helping divert billions of dollars from Malaysian state fund 1MDB

* Moody’s sees global sukuk sales of US$120b-US$130b this year with Gulf Cooperation Council and Malaysia to continue to dominate Islamic bond market

* Prime Minister Mahathir Mohamad will hold bilateral meeting with South Korean President Moon Jae-in and sign Malaysia-South Korea memorandums of understanding on Wednesday 

* Stockpiles of palm oil in Malaysia climbed 1.3% to 3.05 million metric tons in February, while exports slumped 21.4% to 1.32 million tons, according to the Malaysian Palm Oil Board

* Nation’s 10-year bond yield fell 1bp on Tuesday to 3.87%

* Global funds sold a net US$66.6m in local equities on Monday

Read more at https://www.theedgemarkets.com/article/ringgit-consolidates-near-support-200dma