DOLLAR-SING: USD/SGD has inched lower and last.......>

DOLLAR-SING: USD/SGD has inched lower and last trades -9 pips at SGD1.3914.

Final readings of Singapore's Q4 GDP have been revised higher, even as market

consensus was for no change from the flash estimates. Non-oil domestic exports

fell, but less than expected. At the same time, however, Singapore's Trade &

Industry Ministry lowered its 2020 growth forecast range, which now stretches

between -0.5% and +1.5% vs. the previous +0.5% to +2.5%. The revision came after

PM Lee warned on Friday that a recession is possible. The Ministry noted that

the local economy will feel the most impact from the Covid-19 epidemic in H1.

- The MAS reiterated that its policy stance remain unchanged and the next

decision will be in April, as scheduled.

- The focus turns to Singapore's budget, to be unveiled on Tuesday. Participants

will scrutinise the document to assess the size of stimulus deployed to counter

economic challenges from the coronavirus.

- With momentum indicators in overbought territory, bears look for a fall below

the Feb 12 low of SGD1.3850 to confirm a double top formation. Bulls keep an eye

on Friday's peak at SGD1.3927. Above opens SGD1.3842, the Sep 3 high.