Showtime's and Av's actions are entertaining, thank you, gents,...

On my side, I hoped Showtime is right about the following though,... I am really finding it hard to convert more RM into foreign notes because of the weakness in the RM.

'Could be back down to 4.00 or even 3.xx if political issues are resolved by year end and FED's direction is no more an uncertainty.'

ok, can do.


draghi just hinted more more qe in euro.

usd rose 1% against euro, crude softening again.

Up marginally compared to previous data, so a piece of small good news for RM.

now the focus on the budget 2016 tomorrow

Leading the charge
http://www.focusmalaysia.my/Mainstream/Lea...%20the%20charge

All commodities goes up
Can tis momentum sustain plus turnaround for MYR?

it is true commodity prices are off their multi year lows.

but can't count on it yet. commodity cycles can be very very long.

it will take china and the rest of the industrialized world to consume/use more and more to improve commodity prices.

oil exporters incl brazil, venezuela and russia will be the first to celebrate if that happens.

even saudi will be relieved as it is hurting to run on 20% budget deficit now and with reserves being drained every month.

With oil still around $45, RM appreciate from 4.28/4.29 to 4.22/4.23 today. I think they already pricing in goodies in budget 2016

Buy on rumours n sell on facts?

oil aside, i can see many parties placing confidence in a rm strengthening budget incl moody's:
http://www.theedgemarkets.com/my/article/m...moody%E2%80%99s

goodies? you mean goodies to strengthen rm i.e. more taxes, reduce debt, smaller budget deficit?

or baddies - less tax, more disposable income, more foc cash, bigger deficit, more debt?

we'll hv to see goodie or baddie that will help the rm or bust it further.

This post has been edited by AVFAN: Oct 23 2015, 01:53 PM

I see it from the other way, there may be plenty of short seller covering their position in the awaiting budget announcement.

Mind that there may be plenty of short position by large funds.

HLIB: Combination of factors bode well for slow, steady foreign reserves build-up
http://www.theedgemarkets.com/my/article/h...-reserves-build

Can MYR close at 4.00 by year end?

You wish. I am not optimistic.

fri 4pm 4.225.

now, 4.216.

you are leading!

but... we wait till 10am monday.

looks like GST managed to soften the blow to reduction of petroleum revenue. no more oil money but rakyat's money.

Yeah,... RM is also strengthening against the SGD. At I am writing, it is at 3.0321 against the SGD. So,... if we go to the money-changer tomorrow, can probably get at 3.0530 if this number of 3.0321 does not move-up further by tonight.

yes, it does look like gst will fund everything now.

and notice those super high income earners >rm600k a yr will be taxed more.

so, good brains/highest income earners will either pay for the rest or leave.

better not conclude so soon!

markets are digesting what the budget implies and what moves bijan will make further.

throw a spanner in the works!


BREAKING: China's central bank cuts benchmark interest rates

RMB will weaken, SSE and HSI will react positively. What are the secondary effects to the world ?

Probably RM will weaken again,....

Hence,... must concentrate on making foreign income.

it reminds me of the story of a few fellas in a bar drinking beer. after taxing the rich one too much, he decided to leave and no one else to pay tax to help the poorer ones anymore.