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Little Reaction In NEER As Industrial Production Weaker Than Expected

SGD

The SGD NEER (per Goldman Sachs estimates) is holding little changed this morning after April Industrial Production printed at -1.9% M/M in April. A rise of 0.1% M/M had been expected. We sit ~0.9% below the upper end of the band.

  • USD/SGD is following broader USD/Asia trends. The pair is down ~0.2% and we sit on the 200-Day EMA ($1.3522).

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