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USDMYR

USDMYR continue to rally higherUSDMYR: 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.
by ryanchai
USDMYR: MYR get hit ?!?!?!? USDMYR: USD spike up since Trump elected as US President. The rally is strong and broke above up trend line. - “Global investors are favoring conditions in the U.S. market - Offshore investors pulled money out of emerging Asia into U.S. Treasury, regional currencies were walloped. Malaysian ringgit dove 2.7%, according to FactSet. - There are significant near-term uncertainties in the first few weeks after the election, as markets are waiting for President-elect Trump to lay out his policy directions. - Understand Trump. Trump anti-Islam, anti-globalization, and anti-green. Pro- business, pro-American. - The falling MYR is not an attack to Ringgit (based on current findings). Basically, emerging country will get hit as Trump favor in reduce tax, boost bank sector (loan). Offshore investment money flow to US. - Malaysia point of view, MYR is very weak fundamentally, and is vulnerable to news. Thus, it get hit badly. Depreciated more than 12% in one day.!! But recover a bit shortly.
by ryanchai
More easing measures soonIt is expected that the Singapore general election should be held within this year, coincide with the 50th anniversary and the death of the former Prime Minister Lee Kuan Yew recently. On one hand, in order to get sympathy votes from people and also a weakening economy globally. It won't help the ruling party if the election were to be held in a period of recession. I am expecting a potential double top and sideways movement until the general election, which we'll then see massive easing measures to boost exports. "Singapore June Factory Output Falls 4.4% Y/y; Est. 0.4% Drop" A target of 1.5579 in the near term shouldn't be of any surprise, if the FED were to target a rate hike of at least 1% aggressively over the next year as said from the 'leaked' document. www.zerohedge.com
by LastBattle