DOLLAR-SING: USD/SGD has given away 58 pips and......>

DOLLAR-SING: USD/SGD has given away 58 pips and last trades at SGD1.4221. Firmer

risk appetite, supported by the well-covered STAT story re: Covid-19 drug, has

generated selling pressure, as the greenback is offered across the board.

Meanwhile, Singapore's non-oil domestic exports unexpectedly rose by 17.6% Y/Y

in March, with analysts calling for an 8.0% decline. The reading was boosted by

the base effect, while a surge in pharmaceuticals and a surprise uptick in the

key electronics pushed headline figure higher.

- Meanwhile, on Thursday Singapore recorded its largest daily uptick in new

coronavirus patients. 728 new cases brought the total number to 4,427, with the

press pointing to a rapid spread of the virus in the densely populated

dormitories for immigrant workers.

- Bears eye the key near-term support at SGD1.4123/20, which represents Apr 10

low/50-DMA. Below there would return the focus to the downside. A break above

y'day's high of SGD1.4308 would bring Apr 6 high of SGD1.4417 into play.

- Looking ahead, Singapore's CPI will hit the wires next Thursday, with

unemployment and industrial output due next Friday.