Further consolidation seen in USD/MYR near term – UOB

Pablo Piovano FXStreet

USD/MYR faces extra rangebound within the 4.1330-4.1530 range in the short-term horizon, noted Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“Last Monday (06 Sep, spot at 4.1450), we highlighted that ‘conditions remain oversold but the current weakness is not showing signs of stabilization just yet’. We added, USD/MYR ‘could edge lower towards 4.1350 but the next major support at 4.1200 is likely out of reach’.”

“While our view for a weaker USD/MYR was not wrong, instead of ‘edging lower’, USD/MYR plummeted briefly to a low of 4.1280 on Friday (10 Sep) before rebounding quickly. The rapid rebound amid oversold conditions suggests that USD/MYR is unlikely to weaken further. For this week, USD/MYR is more likely to consolidate and trade between 4.1330 and 4.1530.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD looks apathetic around 1.1770

EUR/USD comes under renewed pressure on Tuesday, deflating below the 1.1800 support and reversing two consecutive days of gains. The pair’s decline follows the persistent move higher in the US Dollar, as trade uncertainty dominates the sentiment ahead of President Trump’s SOTU speech.

GBP/USD comes under pressure below 1.3500, focus on BoE

GBP/USD is on the defensive again on Tuesday, hovering below the 1.3500 mark as the Greenback stages a firm rebound after two soft sessions. Investors, in the meantime, are expected to closely follow BoE official’s comments later in the day.

Gold fades the advance, back to $5,100

Gold is giving back a good portion of the recent multi-day rally, receding to the boundaries of the $5,100 region per troy ounce amid the marked rebound in the Greenback. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.