MYR: Ringgit Approaches Key Technical Level
Aug-28 03:41
- The Ringgit is stronger in morning trade by +0.15% at 4.2283, after yesterday's close at 4.2350.
- The losses earlier in the week saw MYR trade above the 20-day EMA, yet with the gains in morning trade, it is drawing near again.
- The FTSE Malay KLCI is up +0.38% in KL this morning and the yield curve is steepening. The MGS 10yr is trading at 3.39%
- The BNM meets next week for their September meeting and consensus at this stage is for no change to rates, remaining at 2.75%
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JGBS AUCTION: 2-Year JGB Auction Results
Jul-29 03:37
The Japanese Ministry of Finance (MoF) sells Y1,977.9bn 2-Year JGBs:
- Average Yield: 0.841% (prev. 0.729%)
- Average Price: 100.115 (prev. 99.942)
- High Yield: 0.844% (prev. 0.735%)
- Low price: 100.110 (prev. 99.930)
- % Allotted At High Yield: 35.8202% (prev. 36.5535%)
- Bid/Cover: 4.4665x (prev. 3.9028x)
JGBS AUCTION: Poll: 2-Year JGB Auction
Jul-29 03:12
*JAPAN 2Y GOVT BOND AUCTION MAY HAVE 100.09 LOWEST PRICE:POLL – BLOOMBERG
US-CHINA: Trump Pushes Back On Speculation For Meeting With China's Xi
Jul-29 03:05
US President Trump posted via Truth Social that he is not seeking a a summit with China President Xi Jinping. The full post is below. This comes as US and China officials are set to meet for the second day of trade talks in Stockholm. A potential meeting between Trump and XI was reportedly set to be part of the agenda of the talks.
- "The Fake News is reporting that I am SEEKING a “Summit” with President Xi of China. This is not correct, I am not SEEKING anything! I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest! Thank you for your attention to this matter."
- Also noted the FT reported overnight: " The US has frozen restrictions on technology exports to China to avoid hurting trade talks with Beijing and help President Donald Trump secure a meeting with President Xi Jinping this year, the FT reports, citing people familiar with the matter." (via BBG).
- Rtrs headlines have also just crossed that Nvidia has placed fresh orders with TSMC for 300k in H20 chips, as demand from China is very strong, but that the US Commerce Department is yet to approve the company's export licenses for the H20.
