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NEER Little Changed In Early Trade, MAS Due On Friday

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed in early dealing on Monday and remains well within recent ranges. The measure sits ~0.5% below the top of the band.

  • USD/SGD is a touch firmer in early dealing on Monday, the pair sits ~0.1% above opening levels last printing at $1.3660/65. The fallout from geopolitical tensions in Israel has seen the greenback firm on Monday.
  • On Friday the pair fell below the 20-Day EMA ($1.3660) as broader US trends dominated flows as the pair closed at its lowest level since mid September.
  • Bulls target the high from 30 Nov 22 ($1.3765). Bear's look to sustain a break of the 20-Day EMA to target the 200-Day EMA ($1.3520).
  • The highlight of this week's docket is Fridays MAS Monetary Policy Statement, which crosses alongside the advance read of Q3 GDP. On tap today we have September Foreign Reserves, there is no estimate and the prior read was $337.25bn
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