The US Dollar rises +0.32% against the Ringgit this Thursday and is now trading at 4.6850. Despite the upward movement compared to the opening of the day, the main sentiment is downward, as the USDMYR rose +0.96% at the beginning of the session just to fall again at the end of the day. The downward movement occurred after the release of data from the Initial Jobless Claims indicator, which came in higher than expected (231k actual against 220k forecast). Initial Jobless Claims measures the number of people who applied for unemployment insurance for the first time in the previous week and is therefore an important indicator of the situation of the job market in the USA. Higher than expected readings show that more people have lost their jobs and it tends to be negative for the USD. From a technical point of view, as USDMYR managed to break below 4.7000, it is possible that it could fall to the 4.6350 region in a few days.
USD/MYR Technical Analysis
