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Committed To Reopening

SGD

After an up and down day SGD finished broadly flat, USD/SGD finishing the day with losses of 3 pips at 1.3534. The pair last up 8 pips at 1.3542. Support is seen at the 50-DMA at 1.3522, while resistance is seen at a 23.6% retracement level at 1.3567.

  • There are still some jitters around the coronavirus situation, but the FinMin Wong said yesterday that Singapore is committed to reopening, and that recently reimposed curbs are preemptive. Wong also said Singapore is in talks with other countries about expanding vaccinated travel lanes, possibly this year.
  • There are no releases on the economic docket today, Singapore will sell a total SGD 5.4bn 3-Year and 30-Year bonds today. Next week markets can look forward to PMI data and retail sales figures.

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