The Dollar lost ground against the Ringgit this Wednesday after U.S. JOLTs Job Openings brought a much higher than expected number and the highest data since 2001. The fast recovery in the US and the forward guidance from the FED saying constantly that it will not increase the interest rate until 2023 is bringing more confidence to the investors, who are selling dollars and buying stocks. This Wednesday investors will pay attention to the Unemployment rate in Malaysia. A lower-than-expected number could bring more strength to the Ringgit in the next days.
After a long period of up trend, the Singapore Dollar is starting to lose value against the Ringgit this Wednesday and it is now traded at 3.1113. Investors will pay attention to the Malaysian unemployment rate, due later today. Should the number come lower than expected, we should see more pressure in the Singapore Dollar, and it could fall until the 3.0800 level within next week. Another important factor that is building strength to the Ringgit, is vaccination rollout, which has improved a lot in the past weeks. From a technical point of view, the SGDMYR could fall until the 3.0320 in 2 or 3 months.
