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NEER Little Changed On Tuesday, 20-Day EMA Caps USD/SGD

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 has ticked away from session highs in recent dealing, the pair faced resistance at the 20-Day EMA ($1.3429), and now sits little changed from yesterday's closing levels at $1.3410/20.
  • Bulls immediate focus is on a break of the 20-Day EMA which opens the 200-Day EMA ($1.3501). Bears target the low from May 10 at $1.3227.
  • A reminder that the local docket is empty until Friday's CPI print. 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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