The Dollar has been flat against the Ringgit this Wednesday due to a low economic agenda. The most important news for this Thursday is the ADP Non-Farm Employment (which is seen as a possible preview for the Non-Farm Payroll) and the Initial Jobless Claims, both for the US. The ISM PMI already showed a better-than-expected number (release on Tuesday) and now the market wants to confirm that number with the reading from those 2 indicators (due later this Thursday). On Friday we also have the Non-Farm Payroll, and these 4 macro indicators (ISM PMI, ADP Non-Farm Employment, Initial Jobless Claims and Non-Farm Payroll) will help investors to create a clear picture of the direction for the Dollar in the next few weeks. While those numbers do not come, the market is wandering without direction.
The US Dollar has been flat against the Singapore Dollar this Thursday, while the market waits for the ADP Non-Farm Employment and the Jobless Claims due later today, both for the US. On Friday we also have the US Non-Farm Payroll, which is the most important macroeconomic indicator in the market. Those indicators combined (ADP Non-Farm, Initial Jobless Claims and the Non-Farm Payroll) will give a better picture of the direction for the US Dollar and stocks around the world. Should those numbers come more positive than expected, the USDSGD could initiate a strong up move that could drive the price to the 1.3390.
