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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.
SGD
After touching 1.3260 near the end of the Asia-Pac session a rebound in the greenback following six days of decline saw USD/SGD rebound, but lingering SGD strength meant the move ran of steam. USD/SGD last at 1.2389 after running into resistance at 1.3300. SGD hit a 7-week high yesterday, while the interest rate swap curve bear steepened overnight.
- 1.3300 represents a 61.8% retracement level, bulls need a break of this to bring the 100-day moving average at 1.3331 into focus, above this a 50% retracement level at 1.3344 awaits, perhaps as far at the 50-day moving average at 1.3370. Support is seen at a 76.4% retracement level at 1.3245.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
- On the coronavirus front, it was announced yesterday that Singapore would ease rules for travelers from Hong Kong, while tightening rules for those coming from India as the latest surge continues.
- A limited economic docket this week, markets look ahead to CPI data on Friday, while next week participants will digest industrial production and unemployment data.
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.
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