CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

BRIEF: EC Approves Italy's 5th NGEU Payment Request For EUR11 billion

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

MNI BRIEF: China Aims For AI Standards By 2026

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: 2.60% Aug-34 Bund Due Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NEER Little changed, USD/SGD Supported At $1.32

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed in early dealing, the measure sits a touch off cycle highs and is ~0.2% below the top of the band.

  • USD/SGD rose ~0.2% yesterday, unwinding early losses as the pair found support ahead of the $1.32 handle as broader USD trends dominate flows on Thursday.
  • We sit unchanged from yesterday's closing levels in early trade and USD/SGD last prints at $1.3260/70.
  • The pair has been supported below $1.32 for the most part of 2023. Bears look to sustain a break of the figure to target the low from 1 Feb ($1.3032). Bulls first look to target the high from 13 July ($1.3307).
  • Looking ahead, the next data of note is Monday's June CPI print, the headline print is estimated to come in at 4.4% Y/Y and the prior readings were 5.1% Y/Y (headline) and 4.7% Y/Y (core).
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.