Malaysian Ringgit - New Taiwan Dollar Forecasting
When determining the best time to make a foreign exchange transaction, in this case the MYR vs TWD, you should pay attention to the recent market trends for both currencies.
Malaysian Ringgit (MYR)
The Malaysian ringgit is up around 2.5% against the US dollar for 2020 (in August) and is gaining favour from bank commentators such as HSBC due to the attraction of the carry trade - the ability to earn higher interest when holding MYR versus other major currencies.
Read more in the article MYR Forecasts.
New Taiwan Dollar (TWD)
NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of 2020 if the coronavirus comes under control.
The benchmark Taiwan dollar exchange rate, USD/TWD, has done little over the past 8 months; it continues to range between 30.5 and 31. The Taiwan dollar is worth 6 percent less against the greenback than its 2018 high.
One major currency that TWD is doing well against is the Australian dollar. TWD struck a 10-year high against the Aussie in January (21.16 per AUD), and remains close to that level in early May.
Disappointing export data (March data showed exports falling year-on-year for the fifth consecutive month) is perhaps evidence of a global tech slowdown that could put pressure on Taiwan’s currency this year due to its sensitivity to corporate earnings (high earnings create substantial capital inflows into Taiwanese equities).
Forecast: ING said in late April that it was concerned that any below-forecast sales numbers in the smart phone industry could weigh on TWD. “As such,” ING said, “against the US dollar we've revised our [year-end] TWD forecast from 30.40 to 30.95.”