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NEER Little Changed, CPI On Tap

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed in early dealing and sits a touch off its highest level since 10 Aug. The measure is ~0.7% below the top of the band.

  • Broader greenback trends continue to dominate flows as USD/SGD continues to edge lower while narrow ranges persist. The pair is a touch lower this morning and last prints at $1.3560/65.
  • The pair remains in an uptrend, bulls immediate focus is on the high from 17 Aug ($1.3625), from here they can target the high from 30 Nov 22 ($1.3765). Bears focus on the 20-Day EMA ($1.3497).
  • On the wires today we have July CPI, headline CPI is expected to tick lower to 4.2% Y/Y and Core to 3.8% Y/Y.

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