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NEER Little Changed On Monday, Friday’s CPI Print Headlines 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 ~0.6% below the upper end of the band.

  • USD/SGD is ~0.1% firmer this morning, as broader greenback trends dominate flows. The pair last prints at $1.3390/1.3400.
  • Bears have cleared the 20-Day EMA and now target the low from May 10 at $1.3227. Bulls first look to break above the 20-Day EMA ($1.3429) to turn the tide.
  • Looking ahead, Friday's May CPI print headlines the week's docket. Headline CPI is expected to fall to 5.4% Y/Y from 5.7%, and Core CPI is also expected to tick lower to 4.7% Y/Y from 5.0%.
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