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Free AccessMeanders As Singapore's Exports Top Expectations
Spot USD/SGD re-opened slightly higher, but has shed gains since, as simmering Sino-U.S. tensions failed to generate any meaningful risk-off impetus at the start to the week. The rate last sits -6 pips at SGD1.3703.
- The city-state released non-oil domestic exports data, which beat expectations and rose 6.0% Y/Y and electronics exports increased 2.8% Y/Y (albeit from a low base).
- Bearish focus falls on Aug 5 low of SGD1.3670 and losses past this level would open up the lower 2.0% Bollinger band at SGD1.3653. Bulls look for a jump above Aug 12 high of SGD1.3756, before targeting Aug 3 high of SGD1.3787.
- Little of note left on Singapore's data docket this week.
To read the full story
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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.