MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Another Inflation Beat

SGD

Singapore inflation data for June surprised once again on the upside. The headline YoY printed at 6.7%, versus 6.2% expected. MoM it was +1.0% versus 0.5% expected. Core inflation was also stronger than expected, +4.4% YoY, versus 4.1% expected.

  • Underlying momentum in inflation still looks strong. 7 out of 10 of the sub-categories recorded faster YoY gains in June compared to May, although clearly transport was a standout at +18.8% in YoY terms.
  • Core inflation rose 0.7% in the month, with the YoY pace now strongest since late 2008.
  • This data will reaffirm calls that further MAS tightening is likely at the October policy meeting.
  • USD/SGD initially dipped following the CPI print, but we are back close too unchanged at 1.3880 on the day, versus the post CPI low under 1.3870. This rebound has coincided with the USD kicking higher though, so that’s likely a factor.
  • On a NEER basis, we have still seen SGD FX outperformance. The NEER continues to track inflation pressures higher. We are -0.95% away from the top end of the band, according to Goldman Sachs estimates.
BulletEM BulletEmerging Market NewsHomepagemarkets-real-time
BulletEM BulletEmerging Market NewsHomepagemarkets-real-time

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.