OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: MYR, an election trade - ANZ

FXstreet.com (Barcelona) - Khoon Goh, FX Strategist at ANZ has taken a look at MYR´s prospects ahead of the upcoming key election.

He begins by noting that Malaysia heads to the polls this Sunday in what is widely regarded as the closest election in the country’s history. He adds that Markets are anticipating a win for the incumbent Barisan Nasional coalition and such a result would see only limited rallies in assets and the currency. Alternatively, an opposition win would probably result in short-term volatility as investors assess whether the political transition will be smooth and if there will be major changes to government policy, especially those regarding investment. To position for election uncertainty, he recommend buying 3m MYR bills at 3.04% and hedge the FX using NDFs at an implied yield of 2.24%.

Forex: USD/CHF prints high at 0.9310 and returns to 0.9300

The USD/CHF broke off its limited to trading range to post a high at 0.9310. Such move was quickly retraced back to the psychological level at 0.9300. The European session is moving slowly, but volatility is expected for the New York session, with the FOMC policy decision later at 18:00 GMT, as well as the ADP employment and ISM manufacturing PMI at 14:00 GMT.
Read more Previous

Forex Flash: Sterling remains well supported against the dollar - Investec

Investec treasury analysts note that Sterling remains well supported against the dollar, opening above 1.5500 this morning as the USD continues its retreat, with yesterday’s very disappointing Chicago PMI reading, 49.0 versus 52.5 expected, adding to the recent run of negative US data.
Read more Next
Start livechat