Ringgit poised for gains

* “The easing of North Korea tensions is providing a positive backdrop to an already buoyant domestic Malaysian landscape and are offering a massive boost to local currency markets, including the ringgit,” Stephen Innes, head of trading Asia Pacific at Oanda in Singapore, writes in a client note

** Ringgit remains buoyant on the back of stable Malay bond markets, but with Malay election the next local headwind, we could see a slowdown in offshore flows which are most typical ahead of any regional elections

** Oil prices continue to trade firm, and with regional sentiment improving, the ringgit should continue to benefit from both strong domestic and external factors  Innes added

Bloomberg Via Edge Markets


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Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes