Oil price up when USD is weak

Oil money looks like the single biggest determinant of RM direction now. If it increases to $60 by end of November, RM could very well breach the resistance of 4.00.

but our so-called ministers say malaysia not oil exporter 

if not mistaken, gas price are "lag" 6mth from crude oil price?   

so it's true? 

RM3.80 ? 

Too good to be true.... 

If oil $100 and bijan issue is solved, then RM3.00 ?

The recovery of USD/MYR is extremely fast especially tis week as compared to depreciation which is on gradual basis
Interesting to watch next week trading session

Add more USD guys, this is not the end of the USD rally against EM currencies.

Nobody knows the causes that set the ups or downs of RM. Its like gambling now. Even inaction is a gamble now

KUALA LUMPUR: The ringgit opened softer against the US dollar today on profit taking after last week’s rally, dealers said.
http://www.freemalaysiatoday.com/category/...inst-us-dollar/

I see a very highly-correlated movement here between crude price wtih USDMYR and SGDMYR.

As per my post last week,... this morning, about two-third of the economists Bloomberg surveyed said that the MAS will be forced to ease tomorrow, but in what form is not made known.

For me, I am nor really concerned about which of the three forms they will take, or what combination of the forms thereto. I am more concerned of the SGD will really weaken for me to buy more, when will it weaken and will it weaken long enough for me to buy-in...

As per Maybank's forex - TT Sell - the cheapest to buy the SGD was back on Oct 9 - 2.9730.

The window of purchase will be small, or will be unpredictable of when the window will come.

Long live the Singapore Dollar !

I don't have access to an internet terminal now. What was the reading this morning on China Trade Balance ? Worse than August's number ?

Analysts and Hedge Funds are betting on crude price improving next year,... from which month onwards is unsure.

Oil demand growth to slow, IEA says, but is OPEC listening?
http://www.cnbc.com/2015/10/13/oil-demand-...-listening.html

http://www.thestar.com.my/Business/Busines...band/?style=biz

possible move of MAS, which wan you like?

Singapore is about to enter technical recession
"Exports and industrial output have slumped hard alongside port activity as a consequence of China wobbles exacerbating global demand deficiency. And while not as dire as externally-focused activity, domestic demand has also been dented by a confluence of softer credit growth, labor supply constraints and broader economic drag from the cooling property market," Vishnu Varathan, senior economist at Mizuho Bank, wrote in a note released Monday.
http://www.cnbc.com/2015/10/12/singapore-t...-recession.html

Ringgit to weaken between RM4.45 and RM4.50 if China devalues yuan

http://www.thestar.com.my/Business/Busines...yuan/?style=biz

Global wealth shrinks for the first time since Lehman
Jenny Cosgrave | @jenny_cosgrave
1 Hour Ago
CNBC.com

Sharp swings in the currency markets have taken their toll on overall global wealth, shrinking it for the first time since the global financial crisis.

But while the overall pool of cash has declined, the gap between rich and poor has widened, with the top 1 percent of global wealth holders now in possession of 50 percent of all household assets in the world, according to the annual Credit Suisse global wealth report.

Total wealth has doubled since 2000, with a fivefold rise in China and lower, but still rapid, growth in India according to the research.
"Wealth inequality changes slowly over time, so it is difficult to identify the drivers of these trends. However, the value of financial assets – especially company securities – is likely to be an important factor because wealthier individuals hold a disproportionate share of their assets in financial form," the report found.

Total global wealth decreased by $12.4 trillion to $250.1 trillion, with the strength of the U.S. dollar weighing on the overall global wealth picture, as when valued in U.S. dollars, net worth fell in every region except China and North America.
http://www.cnbc.com/2015/10/13/global-weal...nce-lehman.html

Start to long MYR

Good morning to all.

I don't get it,... you said you are of the view earlier: crude now <47, rm likely to go >4.20 tmrw.

So, it means crude will start another drop, and RM will be starting another bout of weakening. If you are a currency trader, you should start to sell the RM now since it commands more USD, and stocks up more USD as the USD appreciates.

As we speak, the RM has weakened this morning.

SG easing but SGD gaining vs USD? 1.3997   

seriously 

China’s Lingering Deflation Risks Offer Room For More Easing
  Bloomberg News
October 14, 2015 — 9:31 AM MYT Updated on October 14, 2015 — 10:02 AM MYT

Food price inflation slows to 2.7%, non-food prices rise 1%
Factory gate deflation reflects commodity price declines

China’s consumer inflation moderated and factory gate deflation extended a record stretch of declines, signaling the People’s Bank of China still has room to ease monetary policy further to support a slowing economy.
The consumer-price index increased 1.6 percent in September from a year earlier, slowing from a 2 percent rise in August and compared with a 1.8 percent median estimate in a Bloomberg survey. The producer-price index fell 5.9 percent, extending its streak of negative readings to 43 months, the National Bureau of Statistics said Wednesday.

With consumer inflation well below the government target of 3 percent all year, the central bank has further capacity to spur lending even after cutting interest rates five times since November. A property downturn has capped prices for households, while industrial overcapacity, a commodities rout and sluggish global demand have weighed on factory prices. Asian stocks retreated with industrial metals and the Australian dollar declined.
"It’s clear that price pressures are on the deflationary side," said Xu Gao, chief economist at Everbright Securities Co. in Beijing. "As consumer prices moderate, the PBOC will continue to expand credit."
http://www.bloomberg.com/news/articles/201...for-more-easing