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Malaysia's trade in October once again surprised the market as exports surged 25.5% year-on-year (y-o-y) to another record-high monthly value of RM114.43 billion. The export growth was even better than the already impressive 24.7% growth recorded in September, and beats the 25% growth forecast by economists in a Bloomberg poll.
Quek Ser Leang at UOB Group’s Global Economics & Markets Research noted USD/IDR is likely to break above the 14,385 level in the short term. Key Quote
KUALA LUMPUR: Bank Negara maintained the Overnight Policy Rate (OPR) at an all-time low of 1.75% at the Monetary Policy Committee (MPC) meeting on Wednesday, which was in line with economists' expectations.
KUALA LUMPUR (Oct 28 ): Economists are expecting Malaysia’s trade sector to sustain its decent growth momentum in the near term as most countries have further reopened their economies, after September’s export growth outpaced expectations when it rose by 24.7% from a year ago.
Oil prices fell by more than $2/bbl on Thursday, with Brent crude dropping to its lowest in two weeks after official data showed an unexpected rise in US crude inventories. At 02:45 GMT, Brent crude was down $2.11/bbl at $82.47/bbl, after touching a session low of $82.32/bbl. US WTI fell by $1.84/bbl to $80.82/bbl after ...