The US Dollar falls -0.15% against the Ringgit this Tuesday and is now trading at 4.7248. The downward movement comes after the release of US Consumer Confidence data for the month of January, which came in lower than expected (114.8 real against 115 forecast). This indicator measures the level of consumer confidence in economic activity and is considered a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. The USDMYR also falls a little due to the anticipation of the interest rate decision for the USD tomorrow, as many investors prefer to protect their positions before high-impact news on the market. The expectation of most experts is that the Federal Reserve (FED) will keep the interest rate unchanged and if that happens, the USDMYR could fall over the next few days. From a technical point of view, if USDMYR manages to break below 4.7200, it could fall as low as 4.6550 in a few days.
USDMYR Technical Analysis
