GDP Release Date Confirmed

Singapore dollar finished broadly flat on Thursday, USD/SGD finished with losses of 4 pips at 1.3586; the rate last operating at 1.3584. Since the start of October USD/SGD has oscillated within a range, despite this 1-month implied volatility has picked up since lows in early September, last sitting at 4.00 and now above the 50- and 100-DMA's. Familiar technical levels are in play, support seen at a 23.6% retracement level at 1.3567, below which the 50-DMA at 1.3520 awaits. Resistance is seen at 1.3635, the September high and then 1.3693, the 2021 high for USD/SGD.

• There were reports that the US and Singapore have signed an MOU on growth and innovation, it follows news earlier this week that the US was pushing Singapore to open a travel lane between the two countries for those with vaccinations.
• On the coronavirus front there were 3,483 new cases yesterday, down slightly from the record high 3,577 on Wednesday. A recent spike in infections after the relaxation of some restrictions has prompted Singapore to pause further reopening, though in a sign of progress primary schools are set to be eased back to in-person classes.
• There are no domestic releases on the docket today, it was confirmed late yesterday that Q3 advance GDP figures will be published on October 14 at 0100BST/0800HKT.