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NEER Little Changed, USD/SGD Holds Below 20-Day EMA

SGD

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

  • USD/SGD has held below the 20-Day EMA ($1.3654) after breaking the measure yesterday, improving sentiment through yesterday's session saw broad based pressure on the greenback.
  • In early dealing this morning the pair is a touch below opening levels at $1.3625/30.
  • Bears now target a move below $1.36 which opens the 200-Day EMA ($1.3522). On the upside bulls look to move above the 20-Day EMA and target the high from 30 Nov 22 ($1.3765)
  • A reminder that the docket is empty until Friday when the October MAS Monetary Policy Statement and the Advance read of Q3 GDP cross.
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