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Neer Steady, Docket Empty For Reminder of Week

SGD

The SGD NEER (per Goldman Sachs estimates) is steady this morning, we remain well within recent ranges. The measure sits ~0.5% below the top of the band.

  • USD/SGD is little changed this morning and is consolidating above the $1.33 handle in a narrow range.
  • The pair is in a technical downtrend, bears focus on a break of the low from 14 dec ($1.3254). Bulls focus on the 20-Day EMA ($1.3390).
  • On the wires this morning exports returned to growth for the first time in more than a year. non-oil domestic exports grew 1% in November, slower than the median expectation for a 1.5% gain in a Bloomberg survey (BBG).
  • Looking ahead, the docket is empty for the remainder of the week.
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The SGD NEER (per Goldman Sachs estimates) is steady this morning, we remain well within recent ranges. The measure sits ~0.5% below the top of the band.

  • USD/SGD is little changed this morning and is consolidating above the $1.33 handle in a narrow range.
  • The pair is in a technical downtrend, bears focus on a break of the low from 14 dec ($1.3254). Bulls focus on the 20-Day EMA ($1.3390).
  • On the wires this morning exports returned to growth for the first time in more than a year. non-oil domestic exports grew 1% in November, slower than the median expectation for a 1.5% gain in a Bloomberg survey (BBG).
  • Looking ahead, the docket is empty for the remainder of the week.