FW: [Maybank] Upward Revision to Ringgit Forecast

 

 

GBL: Upward Revision to Ringgit Forecast FX Weekly by Saktiandi Supaat FX Research We revised USDMYR forecast lower across the next 5 quarters. Upbeat 3Q GDP (+6.2% y/y), BNM's recent hawkish tilt and DPM mention of General Elections within the next 180 days add to the list of positive factors supporting the Ringgit. USDMYR was last seen at 4.1650 levels. Key support at 4.1720 appears to have broken on intra-day basis. We watch the weekly close. An extension of the decline beyond this key support could see the pair lower towards 4.15, 4.0950... Saktiandi Supaat    (65) 6320 1379    saktiandi@maybank.com.sg Christopher Wong    (65) 6320 1347    wongkl@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.