The US dollar remains sitting above the 200-period moving average and is now trading at 4.1520. The macroeconomic data released in the last few days have been positive for the USD. On Wednesday, the ADP Non-Farm Employment data was higher than expected (571k real against 400k forecast). This Thursday, the Initial Jobless Claims data came in slightly below expectations, which is normally good for the Dollar (269k real against 275 forecast). All this information shows a good economic recovery in the US. Still, the most important data will be released later, with Non-Farm Payrolls, which measures job creation in the US over the past month. If this number comes in higher than expected, it could confirm the start of an uptrend in the USD. From a technical point of view, if the USDMYR breaks above 4.1560, it could rise to 4.1930 in a few days.
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© 2019 High Leverage FX - All Rights Reserved.