The US Dollar is flat against the Ringgit on Tuesday and is now trading at 4.3870. The sideways move comes amid a weak macroeconomic agenda on Monday and also because it was a holiday in Malaysia. At the moment, the main drivers of the financial market continue to be the Non-Farm Payrolls data, released on Friday, which brought a reading slightly higher than expected (390k real against 325k forecast), which tends to be good to the Dollar. Another element that remains on the radar is the growing tension caused by the latest ballistic tests in North Korea and the military exercises that South Korea is carrying out jointly with the US. From a technical point of view, USDMYR is close to a resistance region and if it manages to break below 4.3620, it could drop to 4.3160 where it should find temporary support.
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© 2019 High Leverage FX - All Rights Reserved.