News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • Optimism about post-Covid recovery drove capital from tech and into cyclical sectors, boosting the Dow Jones and pulling down the Nasdaq 100. Inflation expectations hit a multi-year high. Will this trend be sustained? Market update from @margaretyjy here:
  • 8 out of 9 Dow Jones sectors ended lower, with 76.7% of the index’s constituents closing in the red. Industrials (+1.15%), communication services (+1.03) and financials (+0.93%) were among the best performers, while consumer staples (-0.21%) trailed behind.
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30AM EST (12:30 GMT) on DailyFX!!
  • The US Dollar plummeted on the heels of NFP with an outside-weekly reversal risking further May losses. Here are the levels that matter on the $DXY charts. Get your market update from @MBForex here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Long $USDCNH was one of my favorite setups for the 2nd quarter btw. I maintain, I like the fundamentals; but the greenback's recent battering needs to relent before this can perform
  • The Dollar's tumble this past week was an abrupt one. We'll see if inflation pressures trigger a shift in risk and rate expectations in the US which could turn the USD's bearings. Meanwhile, a pair I haven't highlighted ...
  • $DOGEUSD's daily range post Elon SNL spot is 0.2900. That may not sound like a lot but the current spot rate is ~ 0.5600. The lower wick (reversal from Sunday's low) is a 35% recovery from the low. A speculator's market, not an investor's.
USD/MYR Up on Malaysian Capital Flight, IDR Eyes Bank of Indonesia

USD/MYR Up on Malaysian Capital Flight, IDR Eyes Bank of Indonesia

Daniel Dubrovsky, Strategist

ASEAN Fundamental Outlook

  • Rupiah gains on Indonesian General Election as Ringgit sinks with outflow concerns
  • Bank of Indonesia may support USD/IDR as USD/MYR looks to Malaysian CPI data
  • If US first quarter GDP data disappoints, it may fuel risk aversion and boost USD

Trade all the major global economic data live and interactive at the DailyFX Webinars. We’d love to have you along.


The Indonesian Rupiah was one of the best-performing ASEAN currencies against the US Dollar this past week. Unofficial preliminary results from the Indonesian General Election showed that President Joko Widodowas on course to secure a second term. As such, regional markets gained as near-term uncertainty that would have been associated with challenger Prabowo Subianto winning was priced out.

On the flip side, the Malaysian Ringgit weakened significantly. USD/MYR rose over fears that FTSE Russell could cut Malaysian debt from the world government bond index. On top of this, there have been growing concerns over capital flight. On the chart below, you can see the overall downward trajectory in the capital account (a measure of flows in and out of a nation) since 2017 amidst disinflation and slowing GDP.

Malaysian GDP, CPI, Capital Flows and KLCI Index

Regional ASEAN Docket

With the Malaysian Ringgit is at risk to further declines amidst a deteriorating fundamental backdrop, keep a close eye on next week’s local inflation report. CPI is anticipated to pick up to +0.3% y/y in March from -0.4% in February. We will also get Singapore prices, but USD/SGD may brush that off as it did with the latest MAS monetary policy announcement.

The Indonesian Rupiah is now setting its course for the next interest rate decision. The Bank of Indonesia is anticipated to leave the 7-day reverse repo rate unchanged at 6.00% as it continues intervening in the FX market. As such, it may step in to quell IDR declines if markets expect a cut ahead with inflation slowing. Local CPI, while within the central bank’s target, is at its lowest since 2009 after a few rate hikes in 2018.

External Risks

Looking externally, what may drive MYR, IDR, SGD and Philippine Peso prices relative to the US Dollar is GDP data. Data out of the world’s largest economy has been tending to underperform relative to economists’ expectations and this may result in softer-than-expected first quarter growth data on Friday.

But be careful, if this fuels risk aversion, the Greenback may rise. As such, USD/SGD may end up trading higher. You may follow me on twitter here @ddubrovskyFX for timely updates on how these impact financial markets and ASEAN FX.

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.