NZD/MYR Exchange rate

Bitcoin derivatives data shows a positive outlook, with CoinGlass BTC's Open Interest rising by 8.07% to $79.45 billion, close to its May 23 record high. This indicates more money entering the market and new purchasing, potentially fueling the BTC price surge. 

The EUR/USD's selling pressure remains well and sound on Thursday, with spot now attempting to ratake the 1.1700 hurdle following earlier troughs in the mid-1.1600s.   The unusually strong weekly readings from the US labour market figures, along with hawkish words from the Fed's Musalem, lend support to the US Dollar and put the risk complex under intense pressure.

Gold reduces its earlier advance and comes close to the $3,300 mark per troy ounce on Thursday. The benchmark US 10-year rates have steadied following a large decline the day before, posing problems for XAU/USD in its bid to climb higher.

GBP/USD is under further downside pressure, falling into the 1.3530 zone on the back of the stronger Greenback and the broad-based cautious stance in the market. Solid US data and supportive Fedspeak allows the US Dollar to pick up further pace, weighing down on the risk-associated universe.

President Trump’s new tariffs are higher than expected for most Asian economies. Moreover, most countries will face additional tariff rates on transshipments. The new announcements are silent on Singapore, India and the Philippines, which might stand to benefit from tariff concessions if negotiations progress favourably.