The US Dollar fell -0.51% against the Ringgit this Thursday and now trades at 4.6810. The recent downward movement comes after the release of Initial Jobless Claims data, which came in lower than expected (222k actual against 219k forecast), which tends to be negative for the USD. Data from the Philadelphia Fed Manufacturing Index for the month of May also came in lower than expected (4.5 real against 7.7 forecast), increasing the devaluation of the USD today. From a technical point of view, today’s downward movement is characterized as an acceleration, which could cause USDMYR to fall to the 4.6750 region in the coming days. If the price manages to break below 4.6750, it could fall as low as 4.6350.
USDMYR Technical Analysis
