Daily Market Report (12 July 2019)

  • A more dovish statement from the Federal Reserves had sent stocks soaring on Wall Street and we expect the same on regional markets today.
  • With expectations of a lower rate in the US, the MYR climbed higher against the greenback to around the 4.11 breaking its consolidation phase of between 4.13-4.15 recently.
  • We maintain our stance that the MYR will appreciate to 4.00 by end of this year.