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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
NEER Firmer In Early Dealing, USD/SGD Below 20-Day EMA
The SGD NEER (per Goldman Sachs estimates) is firmer this morning, the measure printed its highest level since 22 March yesterday and we remain just below the top of recent ranges. We now sit ~0.6% below the upper end of the band.
- USD/SGD is a touch higher in early trade today paring some of yesterday's losses. Broader greenback trends saw USD/SGD fall ~0.5% on Friday.
- The pair is consolidating below the 20-Day EMA ($1.3455) after breaking below the measure yesterday.
- Bears now target the low from 11 May at $1.3235. Bulls first look to break the 200-Day EMA ($1.3508) from here they can target the high from 30 May ($1.3556).
- Looking ahead, the local data calendar is empty until next Friday when May Export data crosses.
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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.