US/MYR Currencies Overview


































Malaysia gold price flow around RM 108 today and if compare to US gold price, the big drop of Malaysia gold price is due to currency convention. On 13 July 2009 US/MYR is RM3.60 so suddenly opening today it drop to RM3.54 so the gold value also drop.

Currencies Overview
The movement in the U.S. dollar against most major currencies was mixed last week, with the dollar showing strength early in the week, but then falling in the latter half of the week. Corporate earnings released last week were better than expected, leading to improved risk appetite among investors for equities and other riskier investments. Recent U.S. macroeconomic data released last week further added to hopes of a bottoming out of the recession.

Lack of fresh fundamental news could keep the dollar moving in a narrow range this week. The dollar could remain vulnerable to declines in the early part of this week, but may strengthen as the week progresses. The strength is based on the assumption that in spite of some signs of green shoots in the recovery of the global economy, investors around the world continue to be wary of financial market conditions and are expected to hold on to safe haven currencies, most notably the dollar. Although there might be some weakness in the dollar in the near-term, the long-term outlook for the dollar remains positive.

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