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NEER Flat This Morning, CPI On Tap

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed this morning, we remain a touch off recent cycle highs. The measure sits ~0.3% below the top of the band.

  • USD/SGD firmed above the $1.34 handle yesterday trimmed some of the losses since in November thus far. USD/SGD deals at $1.3415/20 a touch below opening levels.
  • Technically the pair is now in a downtrend, the 20-Day EMA has crossed the 200-Day EMA flagging more potential downside. Bears target the low from July 14 at $1.3174. Bulls focus on the 20-Day EMA ($1.3518) to turn the tide.
  • On tap today we have October CPI due. Headline CPI is expected to tick higher to 4.5% Y/Y from 4.1%, Core CPI is also expected to nudge higher to 3.1% Y/Y from 3.0%.

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