Many are scratching head now with the drastic movement.
Apart from possible short position covering, it is hard to explain such a magnitude move.
USD/MYR drop, V2
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 Oct 7 2015, 03:51 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang  
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Oct 7 2015, 03:58 PM
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Senior Member
9,361 posts Joined: Aug 2010
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QUOTE(cherroy @ Oct 7 2015, 03:51 PM) Many are scratching head now with the drastic movement. Hi,... well, like you have always been saying, always expect the unexpected. THe unexpected is happening now. Lots of opportunities for people to start plying into the USD and the SGD by converting their MYR over.Apart from possible short position covering, it is hard to explain such a magnitude move.  Earlier, everybody was saying : now the USD is so expensive, is it the right time to convert ? So,.. now's the chance. More legs to go if oil price does not swing back,... convert slowly. NOW'S THE TIME.  sure angpow style  |
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Oct 7 2015, 04:02 PM
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All Stars
48,519 posts Joined: Sep 2014 From: REality
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1.00 USD = 4.19 MYR
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Oct 7 2015, 04:03 PM
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All Stars
17,513 posts Joined: Feb 2006 From: KL
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QUOTE(Hansel @ Oct 7 2015, 03:58 PM) Hi,... well, like you have always been saying, always expect the unexpected. THe unexpected is happening now. Lots of opportunities for people to start plying into the USD and the SGD by converting their MYR over. question remains. how far will it drop?Earlier, everybody was saying : now the USD is so expensive, is it the right time to convert ? So,.. now's the chance. More legs to go if oil price does not swing back,... convert slowly. NOW'S THE TIME. sure angpow style |
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Oct 7 2015, 04:07 PM
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Junior Member
63 posts Joined: Jul 2007 From: Ampang, KL
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Short covering. Back to previous retracement level now.
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Oct 7 2015, 04:09 PM
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Senior Member
9,361 posts Joined: Aug 2010
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QUOTE(alexanderclz @ Oct 7 2015, 04:03 PM) question remains. how far will it drop? NO man,... can never catch the bottom. Convert over slowly.But if you must know when to catch NEAR THE BOTTOM, do this :- a) for the USD : wait for the mtg between RUssia and S.Arabia,... if the talks break down, then it's near. Or - some big guy at the FOMC says that the rate hike is still on-track this year, then it's near. b) for the SGD : observe the MAS announcement next Wednesday morning. Now's the time,.... SURE ANGPOW STYLE Edited : grammar errors. This post has been edited by Hansel: Oct 7 2015, 04:12 PM |
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Oct 7 2015, 04:13 PM
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All Stars
48,519 posts Joined: Sep 2014 From: REality
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1.00 USD = 4.18506 MYR
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Oct 7 2015, 04:15 PM
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Senior Member
9,361 posts Joined: Aug 2010
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QUOTE(nexona88 @ Oct 7 2015, 04:13 PM) 1.00 USD = 4.18506 MYR SURE ANGPOW STYLE |
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Oct 7 2015, 04:38 PM
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All Stars
18,447 posts Joined: Oct 2010
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QUOTE(Hansel @ Oct 7 2015, 04:09 PM) NO man,... can never catch the bottom. Convert over slowly. Russia and Saudi have common enemy in IS. But if you must know when to catch NEAR THE BOTTOM, do this :- a) for the USD : wait for the mtg between RUssia and S.Arabia,... if the talks break down, then it's near. Or - some big guy at the FOMC says that the rate hike is still on-track this year, then it's near. b) for the SGD : observe the MAS announcement next Wednesday morning. Now's the time,.... SURE ANGPOW STYLE Edited : grammar errors.  |
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Oct 7 2015, 04:44 PM
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Senior Member
3,581 posts Joined: Oct 2007 From: everywhere in sabah
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noon still 4.3
thn suddenly i saw 4.22 now even lower....drastic drop and its MYR strengthen...because SGD drop as well i wonder how far can it go |
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Oct 7 2015, 04:48 PM
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All Stars
48,519 posts Joined: Sep 2014 From: REality
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well it's going up again
1.00 USD = 4.21 MYR |
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Oct 7 2015, 04:49 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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RM/SGD once goes to 2.96 as well.
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Oct 7 2015, 04:58 PM
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Senior Member
1,548 posts Joined: Apr 2005
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So much good news for Ringgit today. Let's see if it can break the 4.17 level.
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Oct 7 2015, 05:04 PM
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Junior Member
79 posts Joined: Sep 2009
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QUOTE(prody @ Oct 7 2015, 04:58 PM) So much good news for Ringgit today. Let's see if it can break the 4.17 level.  |
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Oct 7 2015, 05:15 PM
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Senior Member
10,001 posts Joined: May 2013
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QUOTE(Hansel @ Oct 7 2015, 04:15 PM) SURE ANGPOW STYLE |
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Oct 7 2015, 05:17 PM
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Senior Member
10,001 posts Joined: May 2013
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Those who have changed from MYR to SGD or USD earlier must b cursing the appreciation...
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Oct 7 2015, 05:19 PM
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Senior Member
10,001 posts Joined: May 2013
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Awaiting BNM announcement on reserves @ 30/9
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Oct 7 2015, 05:23 PM
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All Stars
24,456 posts Joined: Nov 2010
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bnm 5pm official closing:
usd 4.2150/4.2250 sgd 2.9780/2.9861 aud 3.0323/3.0412 gbp 6.4473/6.4651 http://www.bnm.gov.my/?tpl=exchangerates good enough or not?  This post has been edited by AVFAN: Oct 7 2015, 05:24 PM |
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Oct 7 2015, 05:27 PM
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Junior Member
79 posts Joined: Sep 2009
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QUOTE(AVFAN @ Oct 7 2015, 05:23 PM) bnm 5pm official closing: BONUS of the day! haha usd 4.2150/4.2250 sgd 2.9780/2.9861 aud 3.0323/3.0412 gbp 6.4473/6.4651 http://www.bnm.gov.my/?tpl=exchangerates good enough or not?  Please continue to improve tmr |
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Oct 7 2015, 05:30 PM
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Senior Member
9,361 posts Joined: Aug 2010
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QUOTE(wil-i-am @ Oct 7 2015, 05:17 PM) Those who have changed from MYR to SGD or USD earlier must b cursing the appreciation... Well,... not really. Just use the funds to buy more instrumnts. And wait to average down now. |
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