Free Trial

NEER A Touch Off Cycle Highs, Industrial Production On Tap

SGD

The SGD NEER (per Goldman Sachs estimates) sits a touch off late Augusts cycle highs after firming yesterday. We now sit ~0.5% below the top of the band.

  • Broader USD trends continue to dominate flows for USD/SGD, the pair sits marginally below YTD highs and has observed narrow ranges in recent dealing. USD/SGD sits up ~0.1% at $1.3670/75 today.
  • Bulls target the high from 30 Nov 22 ($1.3765). Bear's immediate focus is on the 20-Day EMA ($1.3620) to turn the tide on the prevailing uptrend, a break through here opens the 200-Day EMA ($1.3505).
  • A reminder that yesterday CPI in August fell to 4.0% Y/Y from 4.1%. The core measure was also down to 3.4% Y/Y from 3.8%.
  • On the wires today we have August Industrial Production. A fall of 3.1% Y/Y is expected.

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.