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Headline CPI Beats, Core Misses; SGD Shrugs

SGD

Headline CPI printed 2.1 in April compared to 1.3% in March and slightly above expectations of 2.0%, the core figure rose to 0.6% from 0.5% previously but missed expectations of a 0.9% rise. USD/SGD took a brief look lower, but quickly retraced the move to move back to pre-announcement levels. Last trades down 11 pips at 1.3310. The rate earlier bottomed out at 1.3305, a few pips above a 61.8% retracement level at 1.3300.

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