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Free AccessDOLLAR-SING: USD/SGD last trades at SGD1.3892, 19....>
DOLLAR-SING: USD/SGD last trades at SGD1.3892, 19 pips worse off as the
greenback has softened amid a modest improvement in sentiment.
- Yesterday's European hours saw Singapore's PM Lee ask President Halimah Yacob
to call a snap parliamentary election. Lee said that he seeks to renew the
government's mandate, as he is preparing to lead the city-state through the
coronavirus crisis. The President agreed to dissolve parliament, setting the
scene for a poll slated for Jul 10. The incumbent People's Action Party, which
has ruled Singapore since its independence, is expected to remain at the helm.
- The 50-DMA has just crossed below the 100-DMA and bears look for a deeper
sell-off, past Jun 16 low of SGD1.3872. A break here would bring Jun 10 low of
SGD1.3804 into play. Bulls need a rebound above Jun 22 high of SGD1.3994 before
setting their sights on Jun 4 high of SGD1.4028.
- Looking ahead, Singapore's industrial output data will be released on Friday.
To read the full story
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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.