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Industrial Production Misses Y/Y Estimates

SGD

Singapore April industrial output rises 2.1% Y/Y (est. +3.5%)

  • Industrial output rises 1% M/M (est. +1.0%)
  • USD/SGD sitting just above session lows, last at 1.3269. Having taken out some support levels the next target for bears is 1.3245, a 76.4% retracement level. The rate failed to make a significant break of the level twice in April, so if the rate did consolidate below here it would the lowest since late February.

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