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    Asian equities could take a boost after strong gains seen on US equities

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    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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USDMYR Technical Analysis

Dyogenes Rodrigues Diniz by Dyogenes Rodrigues Diniz
August 12, 2022
in Forex
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USDMYR Technical Analysis
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The US Dollar was lower against the Ringgit on Friday and is now trading at 4.4420. The downward movement is characterized as an important ignition of selling force, as the price managed to break below the low of the last few days at 4.4470. The downward movement comes after the release of the Producer Price Index (PPI) data which came in well below expectations (-0.5% real against +0.2% forecast). The PPI measures inflation at the beginning of the production chain as it measures the variation in the price of inputs used by the producer to manufacture its products. The lower PPI data add a greater view of a fall in the USD, since if inflation is under control, one of the paths adopted by the FED will likely be to reduce the path of the increase in interest rates. This will make investors see US fixed-income securities as possibly less attractive. With the expectation of lower interest rates, USD falls, stock market rises. From a technical point of view, if the selling force holds, it is possible for the USDMYR to drop to 4.3650 where it should find temporary support.

Tags: US PPIUSDUSD/MYR
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