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NEER Little Changed In Early Trade, USD/SGD Supported At 200-Day EMA

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed in early dealing and has consolidated August's gains in a narrow range in recent dealing. The measure is ~0.4% below the top of the band.

  • Broader USD trends continue to dominate flows for USD/SGD, the pair was supported at the 200-Day EMA yesterday. Narrow ranges are persisting in today's dealing ahead of this evening's NFP print.
  • The pair sits a touch above the $1.35 handle.
  • Bears now look to break the 200-Day EMA ($1.3481) and the low from 1 Aug ($1.3289). Bulls focus is on the high from 17 Aug ($1.3625), from here they can target the high from 30 Nov 22 ($1.3765).
  • Looking ahead over the weekend August Purchasing Managers Index will cross, S&P Global PMI is due on Tuesday.
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