• Global: The dollar index was down 0.03% to 100.42 after US consumer spending fe

Key Highlights:

• Global: The dollar index was down 0.03% to 100.42 after US consumer spending fell to 96.9 m/m in March, below expectation of 97.6. Meanwhile EUR/USD slid 0.15% to US$1.0671 supported by expectations that the ECB is moving closer to tightening monetary policy. In the UK, GBP/USD rose 0.06% to 1.2542 after data released on the UK GDP economy showed a growth of 0.7% q/q for the fourth quarter in line with expectations. 

• Malaysia: The ringgit was 0.11% lower at 4.4255 despite crude oil WTI rising 0.02% to US$50.62 while Brent shed 0.41% to US$53.48 amid optimism that OPEC will extend its production cut deal beyond June. The 5-year MGS yield fell 0.10 point to 3.81, while the 10-year MGS yield rose by 0.10 point to 4.14. The 5-year CDS was 0.52 point higher  at 105.21

• Key Watch: (i) US manufacturing PMI for March is expected at 57 (Feb: 57.7); (ii) EU manufacturing PMI for March is expected at 56.2 (Feb: 55.4); (iii) Malaysia manufacturing PMI for March is expected at 49.8 (Feb: 49.4); (iv) Indonesia inflation rate for March is expected at 0.20 m/m (Feb: 0.23%); (v)Thailand CPI for March is expected at 1.30%y/y (Feb:1.44%)

• Technical Outlook: The RSI reading continued to stay high within the overbought zone suggesting the support level will be at 4.4123 while the narrowing positive gap in MACD sets the resistance level at 4.4388