Baiduri Bank hosts currency outlook for 2021

Sixty guests and customers attended Baiduri Bank’s currency outlook for 2021 titled ‘Navigating the Unexpected Volatility’ at the Atrium of the Baiduri Bank Headquarters yesterday.

The seminar was conducted by Mukhriz Mangsor from Quant Dynamic, who is a certified financial technician with 16 years experience on financial instruments, trading and investing. It was attended by some 60 guests and customers.

According to the speaker, with the recent unprecedented market volatility and market correction due to a turbulent year, investors have witnessed a new market behaviour emerging, with significant and erratic market shifts in a span of just a few days. Meanwhile, the emergence of digital currencies may also pose some risks with most central banks around the world now adopting the Central Bank Digital Currency (CBDC), spearheaded by China.

Mukhriz looked at the potential challenges the market will face in the coming year and provided insight on how investors can best gauge the direction of the currency market.

He offered tips on various tools investors can use for strategies in asset allocation. He ended the seminar with an in-depth look at case studies of major financial events that affected the currency movement since the 1970s to the present day.

Head of Retail Banking Lim Kian Chiong said, “Analysts have forecast 2021 to be a challenging year accentuated with major market corrections. This is largely due to the lasting effects of the COVID-19 global pandemic, the recent United States (US) presidential elections, and the uncertain future of the United Kingdom with Brexit. These challenges have altogether caused unprecedented volatility in the market and have left investors unsure about the future movement and direction of the market.

“Nevertheless, Baiduri Bank is closely following the global market movements and keeping our clients and business partners updated on key developments as the year goes on.”

ABOVE & BELOW: Baiduri Bank Head of Retail Banking Lim Kian Chiong speaks to guests; and Mukhriz Mangsor from Quant Dynamic delivers the talk. PHOTOS: BAIDURI BANK