Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Canada Stocks Steady as Markets Await Fed and BoC Decisions 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
 unchanged at 3.00 pct, says Scotiabank - EconoTimes)
Bank Negara Malaysia (BNM) is expected to leave its overnight policy rate (OPR) unchanged at 3.00 percent given the nation’s strong economic growth and benign inflation outlook. Malaysia's economy grew 5.8 percent y/y in the second quarter, the fastest pace in more than two years. It has added to speculation over an early general election to be called by PM Najib.
Meanwhile, the nation’s inflation will likely decline in November and December on account of favorable base effect. The MYR advanced slightly in August although foreign investor pulled out funds from local stock markets. Going forward, the 4.30 level will continue to serve as a resistance for USD/MYR.
"The MYR is expected to advance to catch up with gains in regional peers as it remains undervalued in terms of either the NEER or the REER. After breaking below the 4.25 level on Wednesday, USD/MYR could head for 4.20 followed by 4.10 and 4.00 going forward," Scotiabank commented in its latest research report.
Meanwhile, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
