Budget 2016 neutral on ringgit, says StanChart Research
http://www.theedgemarkets.com/my/article/b...nchart-research

October 24, 2015
The research firm is forecasting the ringgit to trade at 4.25 against the US dollar by end-2015.

08/24/2015
Standard Chartered Global Research foresees the ringgit – which ended at 4.1685 against the US dollar and at 2.9619 against the Singapore dollar last Friday – to hit 4.20 against the greenback by the third quarter of 2015 (3Q15) and 4.05 by end-2015, on further outflows from both the bond and equity markets. Its previous forecast was 3.75 until end-2015.
http://www.4-traders.com/STANDARD-CHARTERE...ncies-20922781/

Report from Bank based on fundamentals analysis
However, actual movement based on 'perception' mentality

Good catch.

On a side note china's lowering of interest rates might have another domino effect in the making? Just like in the previous yuan devaluation.

MIDF revises ringgit forecast to 4.40-4.50 against US dollar - See more at: http://www.themalaysianinsider.com/busines...h.KlQHvaXa.dpuf

So they are indirectly trying to prevent US from raising rates?

If can hit 4.33, m happy alredy 

The cost of compensating Malaysia’s creditors in the event of a default has jumped 118.18 basis points (bps) over the last 12 months, surpassed by only Brazil (+289bps), Greece (+333.59bps), and Venezuela (+2548.28 bps), according to a Bloomberg data.

Data also show Malaysia’s five-year CDS spread was traded at 209bps at 8.46pm last Friday, the fifth-highest in the world after Turkey (253.62 bps), Brazil (460bps), Greece (1,063.98bps) and Venezuela (4,512.5bps).

Personally, I am not really in favour for the RM to plunge too low. I still have assets denom in the RM. The confidence level for the RM was at, if in the USD, a resistance of 4.40.

Now there is a default bet against the RM,... if a default takes place, say,... in the middle of next year, the RM will plunge all the way down.

If can hit 4.33, m happy alredy 

Ringgit falls as Fitch warns deficit target may be out of reach
Published: 27 October 2015 5:48 PM

The ringgit continues to fall after Fitch Ratings says that Malaysia may miss its deficit target next year. – The Malaysian Insider filepic, October 27, 2015.

The ringgit declined the most in a week after Fitch Ratings said the government may miss its 2016 fiscal deficit target as the economy remains under pressure from lower commodity prices.

The shortfall could exceed Prime Minister Datuk Seri Najib Razak’s estimate of 3.1% of gross domestic product (GDP), the ratings company said in a statement today.

Fitch estimates the slippage is unlikely to increase Malaysia’s debt ratio, which will remain around 52% of GDP until 2017.

In Friday’s budget, Najib unveiled plans to raise taxes for high-income earners and accelerate infrastructure development while lowering the deficit from 3.2% in 2015.
“Fitch didn’t help,” said Vishnu Varathan, a Singapore-based economist at Mizuho Bank Ltd.

“The worry is that with oil prices looking as soggy as they are and economic headwinds persisting, hopes for uninterrupted fiscal consolidation may be a little overdone.”

The currency depreciated 0.9%, the most since October 20, to 4.2670 a dollar in Kuala Lumpur, according to prices from local banks compiled by Bloomberg.

While the ringgit has gained 3.2% this month on fading bets for a US interest-rate increase in 2015, it is still the worst performer in Asia this year as a slump in Brent crude cuts the oil exporting nation’s revenue.

- See more at: http://www.themalaysianinsider.com/malaysi...h.SFVXEIpa.dpuf

Brent Crude Oil drop 1.2% to USD46.96
Our 2016 Budget assume price @ USD48
Thus, MYR is under tremendous stress n GST could revise upward

Past week oil price come down from ~48 to ~43, but RM still around the same

3 weeks ago oil ~50, RM was up back to 4.0xxx

As of this moment, and from what I was told by my RM since this morning, the world press is now detecting that : The feds are hinting of a December hike.

What I watched and detected early this morning at 2+am was : January 2016. The reading of the hint has since evolved to December now.

Getting a bit tired of this,....

28 Oct 2015 03:40 UTC - 29 Oct 2015 03:43 UTC
USD/MYR close:4.28569 low:4.24716 high:4.32133

Still stubborn to cross 4.30

28 Oct 2015 11:00 UTC - 29 Oct 2015 11:03 UTC
USD/MYR close:4.31750 low:4.24716 high:4.32133

Gonna hit my TP of 4.33 soon

Malaysia central bank accepts dollar deposits as ringgit sinks - See more at: http://www.themalaysianinsider.com/malaysi...h.a5ZToXXU.dpuf

Aunty Yellen action really making people headache. better decide to hike or not.

ini tak. playing around & make some countries suffer 

What is the direction of USD/MYR next week?