The US Dollar is up +0.67% today against the Ringgit and is now trading at 4.5200. The bullish move follows the breakout of the resistance region on the daily chart and could open space for the USDMYR to move higher towards the 4.5800 region in the coming days. But the bullish move will consolidate only if USDMYR manages to stay above 4.5200 between tomorrow and next week. From a macroeconomic point of view, Building Permits data came in slightly lower than expected (1.416M real against 1.437M forecast), which was not enough to have a significant impact in the Dollar. USDMYR may be slightly more sideways until tomorrow as traders look forward to the release of Initial Jobless Claims along with the US Philadelphia Fed Manufacturing Index, both to be released tomorrow.
