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NEER Firms Off Lowest Since Early July, Local Docket Empty Till Friday

SGD

The SGD NEER (per Goldman Sachs estimates) has firmed in early dealing this morning, the measure has ticked away from its lowest level since early July which was printed yesterday. We now sit ~0.6% below the top of the band.

  • USD/SGD is ~0.1% lower on Wednesday, broader greenback trends are dominating flows today, the pair last prints at $1.3455/65. The pair is trimming some of yesterday's 0.5% gain.
  • The pair is sitting a touch below the 200-Day EMA ($1.3467), bulls look to sustain a break of the break to target high from March 10 ($1.3576). On the downside bears first target the 20-Day EMA ($1.3377).
  • The local docket is empty until Friday when the final read of Q2 GDP is due. There is no estimate and the prior read was 0.3% Q/Q.
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