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Thursday, September 19, 2013

The Return of the RINGGIT...


SGDMYR


USDMYR

Ringgit is back with a big revenge. :). Clear bearish divergences for both SGDMYR and USDMYR. which also made FCPO volatile with a downward bias overall. Even with good export data of 14% on month, it was not enough for it to push FCPO prices as the ringgit strengthen tremendously. Will have to look at tomorrow's export data to weigh which one is more important as tomorrow is the 20th of the month.

FKLI on the other hand was on steroids due to the FOMC decision on maintaining their "money printing" of USD85bil a month. well, of course that made the Ringgit strengthen since they are "printing" more money. :p. If regionals were to continue this uptrend, 1800 for FKLI may not last long as of today, it is already at 1790ish points.

Hope everyone did change their monies during the crazy uptrend. :)
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