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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SGD
After rising back to 1.3375 during Asia-Pac hours as the greenback caught a bid on safe haven demand USD/SGD dropped back as low as 1.3338 before consolidating in a range, the pair last trades at 1.3347, just above the lowest level since March 3.
- There is tight cluster of technical levels around the rate. The pair sits just above a 50% retracement level at 1.3344, below here brings into play the 100-day moving average at 1.3334, then a 61.8% retracement level at 1.3300. Bulls will look for a break of the 50-day moving average at 1.3369, and then a 38.2% retracement level at 1.3388 which offered significant support through March and April.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
- Elsewhere, Singapore reported the first COVID-19 cluster since March 25, though with four confirmed cases the number is small in comparison to peers. Markets look ahead to export data at 0130BST/0830HKT.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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