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Fresh Cycle High For NEER On Friday, Export Data Due On Friday

SGD

The SGD NEER (per Goldman Sachs estimates) printed a cycle high on Friday before paring gains to finish a touch softer. We now sit ~0.6% below the upper end of the band.

  • USD/SGD is a touch firmer in early dealing, the pair last prints at $1.3440/50 as broader greenback trends dominate in early dealing.
  • Bulls first look to break the 200-Day EMA ($1.3507) from here they can target the high from 30 May ($1.3556). Bears target the low from 11 May at $1.3235.
  • Data-wise the only data of note this week is May Export data. Non-Oil Domestic Exports are estimated to have fallen 1.1% M/M and 7.6% Y/Y. Electronic Exports is also due, there is no estimate for the release.

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