Free Trial

NEER Consolidating, USD/SGD Above 20-Day EMA

SGD

The SGD NEER (per Goldman Sachs estimates) is consolidating in a narrow range after weakening in the wake of Friday's MAS monetary policy decision. We now sit ~1% below the top end of the band.

  • USD/SGD is holding above the 20-Day EMA ($1.3317) the pair broke above the measure on Monday and has consolidated gains in a narrow range in recent dealing.
  • The pair currently sits at $1.3330/40, and is ~0.1% firmer today.
  • Bulls look to target high from March 10 at $1.3576. Bears first target the low from 14 March at $1.3204.
  • Looking ahead the domestic calendar is empty until March CPI which is due next Monday. A 5.5% Y/Y rise is expected in the headline inflation number.

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.