MALAYSIA: Country Wrap: CPI Up, Remains Below Target
Aug-22 05:27
- Malaysia's CPI release for July came in at +1.2%, slightly up on June's +1.1%. Core CPI YoY is at +1.8%. Food and alcoholic bevs +1.9%YoY, Housing Water and Electricity +1.3%, recreation services and culture +0.8%YoY and Transport +0.4% YoY. The Bank Negara CPI target band for 2025 is 2.0% - 3.5% and this is the 12th consecutive print below the lower band. The BNM cut rates by 25bps at their last meeting in July and does not meet again until September 04. (source MNI)
- The Malaysian government continues efforts to attract investments to special economic zones as part of the 13MP. The economy minister noted the focus remains on electronics industries, natural resources, cargo and trade and rubber based industries (source Bernama)
- The FTSE Malay KLCI is up +0.32% today and on track for a positive week. Rising 4 out of the five trading days, the SE bourse is set to deliver over +1.3% of gains.
- The Ringgit is down -0.13% today at 4.2310 as most regional crosses were weak. The Ringgit is down -0.45% over the last five trading days in what has been a data light week in Malaysia.
- Bonds had rallied leading into today's CPI with the 10-year initially -3bps tigher for the week. However post the marginally higher than expected CPI they have given back those gains and the 10-year is on track to finish flat for the week at 3.39%
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
BOBL TECHS: (U5) Key Near-Term Resistance Remains Exposed
Jul-23 05:25
- RES 4: 118.390 High Jun 13 and a key resistance
- RES 3: 118.109 76.4% retracement of the Jun 13 - Jul 11 bear leg
- RES 2: 118.060 High Jun 20 and a key near-term resistance
- RES 1: 118.030 High Jul 22
- PRICE: 117.890 @ 06:09 BST Jul 23
- SUP 1: 117.667 20-day EMA
- SUP 2: 117.450 Low Jul 18
- SUP 3: 117.200 Low Jul 11 and the bear trigger
- SUP 4: 117.000 Round number support
Bobl futures traded higher again, on Tuesday and the contract maintains a firmer short-term tone. Sights are on a key near-term resistance at 118.060, the Jun 20 high. A break of this hurdle would strengthen a bullish theme and signal scope for an extension towards 118.390, the Jun 13 high. Key support and the bear trigger has been defined at 117.200, the Jul 11 low. Initial firm support is seen at 117.450, the Jul 18 low.
LOOK AHEAD: UK Timeline of Key Events (Times BST)
Jul-23 05:23
| Date | UK | Period | Event |
| 24-Jul | 0930 | Jul | S&P Global Flash PMI |
| 24-Jul | 1100 | Jul | CBI Industrial Trends |
| 25-Jul | 0001 | Jul | Gfk Monthly Consumer Confidence |
| 25-Jul | 0700 | Jun | Retail Sales |
| 28-Jul | 1100 | Jul | CBI Distributive Trades |
| 29-Jul | 0001 | Jul | BRC Monthly Shop Price Index |
| 29-Jul | 0930 | Jun | BOE Lending to Individuals / M4 |
| 01-Aug | 0930 | Jul | S&P Global/ CIPS UK Final Manufacturing PMI |
| 05-Aug | 0930 | Jul | S&P Global/ CIPS UK Final Services PMI |
| 06-Aug | 0930 | Jul | S&P Global/CIPS Construction PMI |
| 07-Aug | 1200 | --- | Bank Of England Interest Rate |
| 07-Aug | 1230 | --- | BOE Press Conference |
| 07-Aug | 1400 | Jul | Decision Maker Panel data |
| 12-Aug | 0001 | Jul | BRC-KPMG Shop Sales Monitor |
| 12-Aug | 0700 | Jun/Jul | Labour Market Survey |
| 14-Aug | 0700 | Q2 / Jun | GDP / Services / Production / Trade / Construction |
LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
Jul-23 05:18
| Date | Time | Country | Event |
| 23-Jul | 1500 | EU | Consumer Confidence Indicator (p) |
| 24-Jul | 0700 | DE | GFK Consumer Climate |
| 24-Jul | 0745 | FR | Manufacturing Sentiment |
| 24-Jul | 0800 | ES | PPI |
| 24-Jul | 0815 | FR | S&P Global Flash PMI |
| 24-Jul | 0830 | DE | S&P Global Flash PMI |
| 24-Jul | 0900 | EU | S&P Global Flash PMI |
| 24-Jul | 1315 | EU | ECB Decision |
| 24-Jul | 1345 | EU | ECB Press Conference |
| 25-Jul | 0745 | FR | Consumer Sentiment |
| 25-Jul | 0900 | EU | M3 |
| 25-Jul | 0900 | IT | ISTAT Consumer Confidence |
| 25-Jul | 0900 | IT | ISTAT Business Confidence |
| 25-Jul | 0900 | DE | IFO Business Climate Index |
| 25-Jul | 1400 | BE | BNB Business Confidence |
| 29-Jul | 0800 | ES | GDP (p) |
| 29-Jul | 0900 | EU | ECB Consumer Expectations Survey |
