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NEER Firms On Friday, Retail Sales On Tap

SGD

The SGD NEER (per Goldman Sachs estimates) firmed and now sits a touch below its pre MAS levels from mid April. We now sit ~0.8% below the top of the band.

  • USD/SGD is under pressure today, the pair is down ~0.2% following broader greenback trends. We last print at $1.3250/60 the lowest level in the pair since 14 April.
  • The pair has ticked away from its 20-Day EMA ($1.3323) after breaking below the measure on Wednesday, bears first target the low from 14 April at $1.3204. Bulls look to target high from March 10 at $1.3576
  • On the wires today we have March Retail Sales, the Bloomberg Survey expected a fall of 1.1% Y/Y.

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