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NEER Firmer In Early Dealing, USD/SGD See-Sawing Around 200-Day EMA

SGD

The SGD NEER (per Goldman Sachs estimates) is marginally firmer in early dealing, the measure remains well within the monthly ranges. We now sit ~0.7% below the upper end of the band.

  • USD/SGD is ~0.1 firmer in early dealing, the pair has been see-sawing around the 200-Day EMA in recent sessions as moves are having little follow through.
  • Bulls target a break of the high from 30 May ($1.3556). Bears target a break of the 20-Day EMA ($1.3457), which opens the low from June 16 ($1.3352).
  • Looking ahead the data calendar is thin for the remainder of the week, May Money Supply crosses on Friday.
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