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NEER Little Changed, USD/SGD Pressured On Monday

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed this morning, we remain a touch off recent cycle highs. The measure sits ~0.3% below the top of the band.

  • USD/SGD fell ~0.4% on Monday breaching the $1.34 handle as lower US Tsy Yields weighed on the pair. We sit a touch above the lows from 21 Nov when a 3 month low was printed.
  • Technically the pair is now in a downtrend, bears target the low from July 14 at $1.3174. Bulls focus on the 20-Day EMA ($1.3480) to turn the tide.
  • A reminder that the docket is light this week with just October Money Supply due on Thursday.

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