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
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here:
  • The British Pound, Australian Dollar and US Dollar may all experienced heightened periods of volatility as geopolitical risks in North America, Asia and Europe rattle global financial markets. Get your $GBPUSD market update from @ZabelinDimitri here:
  • The New Zealand Dollar may continue to outperform the haven-associated US Dollar as price breaks above key long-term resistance. Get your $NZDUSD market update from @DanielGMoss here:
  • #Gold prices declined following bearish technical cues, but a key zone of support was reinforced over the past 48 hours. #XAUUSD volatility risk is elevated ahead of the #USElection -
  • What is the US Dollar outlook based on retail positioning ahead of the November 3rd presidential election? EUR/USD may fall as AUD/USD rises. Which way could USD/CAD capitulate? Find out from @ddubrovskyFX here:
  • US #COVID19 cases hit a record for a second consecutive day -BBG
  • The Indian Rupee may weaken following a breakout higher in USD/INR. Despite rising global stock market volatility, the Nifty 50 has been holding its ground. Could it capitulate lower? Find out from @ddubrovskyFX here:
  • The US Dollar gained, pushing USD/SGD to break higher. However, USD/IDR may be looking at losses ahead. USD/MYR struggled to breach the March trendline. USD/PHP could rise.Get your market update from @ddubrovskyFX here:
  • The #DowJones and #SP500 have as of today averaged: -2.16% & 1.43% 3-months and 1-year before #Election2020 respectively What could this mean for the incumbent president/Trump next week? 👇
USD/IDR, USD/MYR, USD/PHP, USD/SGD Fundamental Week Ahead

USD/IDR, USD/MYR, USD/PHP, USD/SGD Fundamental Week Ahead

2020-01-20 04:00:00
Daniel Dubrovsky, Analyst

Indonesian Rupiah, Malaysian Ringgit, Singapore Dollar, Philippine Peso – Talking Points

  • US Dollar gains versus majors, but generally falls versus ASEAN currencies
  • USD/IDR at lowest since February 2018, eyes on the Bank of Indonesia next
  • USD/MYR eyes Bank of Malaysia, IMF World Economic Outlook also on tap

US Dollar and ASEAN FX Weekly Recap

The US Dollar generally had a solid week, rising against its major counterparts such as the Euro and Japanese Yen. Where it fell further behind was against some of its ASEAN counterparts. The Singapore Dollar, Indonesian Rupiah and Malaysian Ringgit aimed higher. USD/IDR thus touched its lowest point since February 2018. The Philippine Peso on the other hand cautiously weakened.

Gains in SGD, IDR and MYR could be traced to improving market mood around the US-China “phase one” trade deal – as expected. The MSCI Emerging Markets Index (EEM) climbed about 1.4% over the past 5 trading days as the S&P 500 hit record highs. ASEAN currencies tend to have a very close relationship with sentiment. These currencies are more sensitive to capital flows which have been pouring into the region lately.

For timely updates on ASEAN currencies, make sure to follow me on Twitter here @ddubrovskyFX

USD/IDR, USD/MYR, USD/PHP, USD/SGD Fundamental Week Ahead

USD/IDR and Bank of Indonesia, USD/MYR and Bank of Malaysia, Singapore CPI and USD/SGD

The week ahead is loaded with both local and external economic event risk. One of the most interesting could be the Bank of Indonesia monetary policy announcement on Thursday. USD/IDR has been on an aggressive decline, particularly after the central bank welcomed further appreciation in the Rupiah. There was a contrasting tone last week however from President Joko Widodo, often known as Jokowi.

He cautioned about too quick appreciation in the IDR, which could hurt exports. Jokowi is also pushing a bill through Parliament that aims to deliver corporate tax cuts and labor reform. This is to help further promote foreign capital inflows. What this could mean for the central bank is a decreased urgency to deliver on further rate cuts, potentially sending IDR rallying further.

USD Forecast
USD Forecast
Recommended by Daniel Dubrovsky
What is the road ahead for USD in the first quarter?
Get My Guide

The Malaysian Ringgit has monetary policy and inflation to watch on Wednesday. The Bank of Malaysia is expected to leave benchmark lending rates unchanged at 3.00%. It will be key to watch how policymakers react to recent developments on the US-China trade deal. Local CPI is also anticipated to rise 1.1% y/y in December, up from 0.9% in November. Expect potentially higher levels of USD/MYR volatility.

The Singapore Dollar has headline inflation data to watch on Thursday. Core Singapore CPI is expected to cautiously disinflate to 0.5% y/y in December from 0.6% prior. Then USD/SGD eyes local industrial production which is expected to contract -0.6% y/y during the same period on Friday. This is as the Philippine Peso awaits fourth-quarter GDP data on Thursday. Growth is expected to increase 6.4% y/y.

Check out my Singapore Dollar currency profile to learn about how the MAS conducts monetary policy!

IMF World Economic Outlook and Sentiment

On the external front, all eyes will be on the World Economic Outlook from the International Monetary Fund on Monday. It will likely offer updates that take into account progress in trade talks. It will be released during the World Economic Forum in Davos, Switzerland. An upbeat tone that induces a “risk-on” tone could add momentum to gains in ASEAN currencies.

Introduction to Forex News Trading
Introduction to Forex News Trading
Recommended by Daniel Dubrovsky
How can you trade around trade wars?
Get My Guide

--- Written by Daniel Dubrovsky, 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.