The Dollar continues to lose value against Ringgit this Thursday and is now trading at 4.1590. Malaysia already has more than 75% of its population with at least one shot of the Covid-19 vaccine and the number of new Covid cases decreases day after day. The news that Malaysia will allow travel of fully vaccinated adults from Monday also caused optimism in the country and this favours the appreciation of Ringgit. The Dollar, on the other hand, is at the crossroads between keeping the 120 billion dollars stimulus in place or starting to cut them off to control inflation. From a technical standpoint, the USDMYR has the potential to fall as far as 4.1350, where it is likely to find some buying strength.
The US Dollar continues to lose ground against the Chinese Yuan this Thursday and is now trading at 6.4262. The trade balance data came much more positive than expected for China (66.76B real against 46.80Bi forecast) and this was the main catalyst for another day of losses for the USD. This Thursday, the market is waiting for data from the Initial Jobless Claims, which could bring more hints about the Dollar. The Producer Price Index data for the CNY came in slightly higher than expected, which may reinforce the downward trend in the USDCNY. From a technical point of view, the USDCNY is in a support region and if the price manages to break above 6.4515 this could pave the way for it to rise to 6.500. On the other hand, if the price breaks below the 6.4250 level, it could fall to 6.3800 in a matter of days, where it may find some buying strength.
