OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: After Malaysian election, further Ringgit gains to be limited - ANZ

FXstreet.com (Barcelona) - Malaysian general elections held yesterday, one of the tightest in the country’s history, is finally out of the way, with the incumbent Barisan Nasional (BN) coalition securing enough seats to govern for another five years.

In view of Khoon Goh, Senior FX Strategist at ANZ: "With the election uncertainty now out of the way, focus will return to fundamentals. We expect BNM to hike rates by 25bps in Q4 this year on the back of a strong pick-up in domestic demand. Ringgit has rallied to trade below 3.00 vs the USD, but further gains to be limited. We retain our year end forecast of 3.02 for USD/MYR."

Forex: EUR/USD still searching for direction after busy week of economic data

After what was an extremely busy week of economic releases and central bank monetary policy meetings, the EUR/USD finished the week up 87 pips at 1.3116. The price action remains extremely choppy with neither side being able to sustain any follow through for a substantial amount of time. Many analysts are now wondering whether or not the “risk on” mentality which was boosted by the better than expected US Jobs data will have any follow through going into upcoming week and how will it influence the foreign exchange market.
Read more Previous

Session Recap: Soft local data; AUD lower, USD unch, and Commodities higher

Little changes in Monday's weekly opening session in Asia-Pacific, with the USD slightly in the negative specially against EUR, GBP, NZD, while about flat against JPY and CAD, and higher against AUD.
Read more Next
Start livechat