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NEER Little Changed In Early Dealing, Q2 GDP Headlines Week's Docket

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed in early dealing, the measure remains well within recent ranges. We now sit ~0.7% below the upper end of the band.

  • Broader greenback trends dominated flows for USD/SGD on Friday, the pair was pressured as broad based USD weakness weighed. Support came in ahead of $1.3450.
  • Losses have been pared this morning, as weaker than expected Chinese CPI boosts the greenback, and the pair sits a touch under the 20-Day EMA ($1.3487).
  • Bulls first target the high from 30 June ($1.3573), a break through here opens the high from 30 Nov ($1.3765). Bears target a break of Friday's low, $1.3457, from here they can target the low from 15 June at $1.3361.
  • The Advance read of Q2 GDP headlines this weeks docket, a fall of 0.2% Q/Q is expected.
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