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NEER Firmer, USD/SGD Holds Above 200-Day EMA, Industrial Production On Tap

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 as broader greenback trends dominated. USD/SGD last prints at $1.3505/15.
  • 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 $1.3446.
  • May Industrial Production is on tap today, a fall of 7.3% Y/Y is expected.

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