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Free AccessDOLLAR-SING: USD/SGD showed under its 50-DMA.........>
DOLLAR-SING: USD/SGD showed under its 50-DMA (SGD1.4240), erasing Friday's
gains, and last deals -27 pips at SGD1.4241. Singapore released unexpectedly
strong Apr exports data today, with non-oil exports rising by 9.7% Y/Y vs. exp.
of a 5.0% decline. The increase was driven by a surge in pharmaceutical exports,
which took advantage of the base effect.
- Bears look for losses below May 8 trough at SGD1.4110, which would allow them
to target Apr 30 low of SGD1.4070, a key near-term support. On the topside,
focus falls on SGD1.4329, where the rate topped out on Apr 21. A break above
there would open Apr 6 high of SGD1.4417.
- Singapore reports its final Q1 GDP at some point this week.
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.