So it's MYR dropping like mad... Not SGD or USD increasing?

.. soft china data
.. saudi oil stocks building up
.. iran deal in progress
.. crude at 46
.. bijan budget
.. bijan motion

what do u think rm will be tmrw and friday?

Heading towards 4.30 mark
Btw, BNM will release reserves @ 15/10 on 22/10

What is a 'good' budget?

myr drop till lausai

think will hit 4.30 by tmrw.

fri budget, next week... good possibility >4.40.

bigger chance if crude gets to 45.

reserves won't change much, little impact...

Indon corporare bonds default in sg will add weight to myr downfall.

increasing
last week 1.4SGD to 1 USD
today 1.39SGD to 1 USD

Why is that so?

19 Oct 2015 08:40 UTC - 20 Oct 2015 08:46 UTC
USD/MYR close:4.27298 low:4.20850 high:4.29478

Almost hit 4.30

it stayed better than 4.25 for much of the day becos crude recovered from <46 to 46.70 due to short covering on nov options expiring today.

can see today end of day, crude's falling again, rm returned to 4.27.

if crude goes below 46 and i expect it to, tmrw should see rm at >4.30.

4.32 hit liao. People will find it hard to believe the magnitude of the MYR depreciation.

lol.... foresee this coming, changed quite some USD last week when around 4.14 lvl

1.00 USD = 4.29280 MYR

1.00 SGD = 3.08834 MYR

Fear of contagious like typhoid outbreak.

Given little price wars among ME oil producers, oil price is unlikely to sustain above $50/barrel and oil price is more likely to trend downward. If USD/MYR rate is correlated to oil price, there could only one direction for the next few months.

This post has been edited by icemanfx: Oct 21 2015, 12:00 AM

Biz as usual for everyone...

the minute this news came out, rm went from 4.285 to 4.295.
http://www.cnbc.com/2015/10/20/oil-falls-a...ude-stocks.html


come fri, if bijan budget is not a rm recovery but rm destructive one, it'll dive gain...

This post has been edited by AVFAN: Oct 21 2015, 10:53 AM

the fact that RM can bounce from 4.4 to 4.1 in such a short time tells u that anything below 4.1 territory is in panic oversold territory.

I think the fair price for RM vs USD is somewhere around 4.1-4.2. Anything more than 4.2 u are at risk oversold territory because a slightly good economy Malaysia news can easily bounce the RM back to 4.1.

I tot 5.2 only is oversold.

When usd rose 3.5 to 3.7 i thought it was big jump. Then later it moved 3.8, 4.0, 4.2, 4.4. I was omg. The latter happened much quicker. Expect big moves (more volatile) in future. That's what i think.

the 3 big movers:

1. crude price - low, now at 45.40
2. budget 2016 - d-day fri tmrw, see if it's rm helping or rm busting
3. bijan chronicles - see if there'll be arrests soon, incl m

rm now 4.296.

This post has been edited by AVFAN: Oct 22 2015, 11:19 AM