ryanchai

USDMYR continue to rally higher

FX_IDC:USDMYR   US DOLLAR / MALAYSIAN RINGGIT
16 0 0
USDMYR:
USD continue to rally against MYR             . The rally is strong as it stay above Daily EMA20 since 2 months ago. The first sign of recovery if it break below EMA20

- Major event ahead in US is Election on Nov 8th, 2016, and possibility of rate hiking in Dec2016.

- Msia just announced Budget for 2017. Total spending increase from last budget, significant an increase in potential spending next year. However, market does not respond positive/negatively over the news. It could be due to low trading volume as budget announced post-market time. Another reason is due to expected budget by market. Take note also on possible General Election in 2017, instead of 2018 due.
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