The US Dollar moved little on Friday, rising just 0.05% against the Ringgit and trading at 4.2030. The Initial Jobless Claims data came in a little higher than expected (202k real against 197k forecast), even so, this difference was small and insufficient to cause large fluctuations in the market. Another reason for the low volatility in the market is partly due to a weak economic agenda and the expectation of the release of Non-Farm Payrolls data, scheduled for tomorrow. The US unemployment rate is expected to be at 3.7%, the lowest since the beginning of the pandemic. If this number comes in lower than expected, it could give more strength to the USD. From a technical point of view, if the USDMYR manages to break above 4.2130, it has a good chance of testing the last few days high at 4.2360.
