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NEER Firmer, USD/SGD Holding Above 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 a touch lower in early dealing, the pair is holding above its 200-Day EMA after firming above the measure on Friday. The pair last prints at $1.3510/20.
  • Bulls target a break of the high from 30 May ($1.3556). Bears immediate attention is on the 200-Day EMA ($1.3500), the 20-Day EMA comes in at $1.3455.
  • On the wires yesterday May Industrial Production printed at -3.9% M/M weaker than expected.
  • Looking ahead the data is thin for the remainder of the week, May Money Supply crosses on Friday.
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