The US Dollar rose +0.1% against the Ringgit this Thursday and the main sentiment in the market is one of indecision and low volatility. At the moment the USDMYR is trading at 4.6795. The little movement can be explained due to the Thanksgiving holiday in the USA, which means that many big players are out of the market today. Although tomorrow is also a holiday in the US, the market may move a little more due to the release of S&P Global Services PMI data. This indicator is based on surveys of over 400 executives in private sector service companies and helps to understand how purchasing managers view the future of the US economy. Higher than expected readings tend to be positive for the USD. From a technical point of view, USDMYR is in a moment of indecision and a downward movement will become clearer if the price manages to break below the 4.6400 region.
USD/MYR Technical Analysis
