The US Dollar continues to weaken against the Ringgit and is now trading at 4.2430. The data from the US Core Durable Goods Orders came in higher than expected (-0.1% actual versus -0.2% forecast), which tends to be positive for the USD. The US Gross Domestic Product (GDP) came in higher than expected (2.9% actual versus 2.6%), signalling that the US economy is doing better than previously predicted and this also tends to be positive for the USD. The data from the US Initial Jobless Claims came in well below expectations (186k real against 205k forecast). As Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week, it is therefore a way of understanding the labour market. All these numbers point to a possible appreciation of the USD over the next few days. From a technical point of view, if USDMYR manages to break above 4.2600, it could go up to 4.3600 in a few days.
