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Underperforms in EGBs


Yld Curves Extend Steeper

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A weaker greenback saw USD/SGD move lower on Thursday, the pair fell to lows of 1.3329 near the US close. The rate last changing hands at 1.3334. Immediate support comes in the form of the 100-day moving average at 1.3326, minor support awaits at 1.3300, a 61.8% retracement level, while more significant support is seen at 1.3245 a 76.4% retracement level. Resistance is posed by a 50.0% retracement level at 1.3344, with the 50-day moving average at 1.3381.

  • Despite an increase in coronavirus infections Singapore is keen to push ahead with plans to open its aviation industry according to Transport Minister Ong Ye Kung. "We hope we can achieve this mutual opening with Hong Kong," he said, adding that "we must try to achieve aviation opening in the near to medium term". Health officials have found two new cases in the past 24 hours, seemingly justifying stricter social distancing and border controls that are due to be enacted this week.
  • Fig.1: USD/SGD

Source: MNI/Bloomberg