The US dollar rose +0.11% against the Ringgit at the beginning of the session only to fall again throughout the day and now trades at its opening price at 4.6388. The main sentiment in the market is indecision and this is due to mixed data coming from the Consumer Price Index (CPI) came in slightly higher than expected (3.4% real against 3.2% forecast) and as this indicator measures inflation in the USA, readings above expectations (as today), tends to be positive for the USD. But due to the fact that the difference was small, this was not enough to strengthen the dollar. Another important element was the release of Initial Jobless Claims data for the previous week in the US, which came in lower than expected (202k actual against 210k forecast). From a technical point of view, considering that USDMYR is in an important resistance region, it is possible that the price could fall as low as 4.5850 in a few days.
USDMYR Technical Analysis
