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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
Strength in the greenback drove USD/SGD higher, the pair rising from lows of 1.3265 at the end of the Asia-Pac session yesterday to highs of 1.3307, the pair last trades at 1.3293.
- The pair stopped short of support at 1.3245, a 76.4% retracement level, and now hovers just below a 61.8% retracement level at1.3300.having struggled to convincingly break the level on its rise. The 100-day moving average at 1.3330 awaits if the pair does post upside today.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
- Singapore has tightened its borders with India after the country reported a global record of daily COVID-19 cases as the latest wave of the pandemic worsens. Singapore has now banned all visitors from India. Singapore has handled the pandemic well through an excruciatingly cautious approach to the pandemic, including delaying a travel bubble with Hong Kong yesterday and quarantining hundreds at a migrant worker dormitory.
- Markets look ahead to CPI data later in the session, headline inflation is expected at 1.2% from 0.7%, core inflation is expected to rise 0.4% from 0.2% in February. Due at 0900BST/1600HKT.
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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