MNI BRIEF: Yellen Gathers Regulators On SVB; Banks 'Resilient'

MNI BRIEF: US Notched $262B Feb Budget Deficit, $723B YTD

CANADIAN FEB JOBS +21.8K VS +2.5K FORECAST, PRIOR +150K

MNI: US FEB TREASURY BUDGET -262.4B

MNI: US NET PAYROLLS REVISIONS FOR JAN, DEC -34K

US FEB UNEMPLOYMENT RATE 3.6%

MNI BRIEF: Trudeau Justified Using Emergency Act, Judge Finds

MNI: Canada Boosting Health Spending CAD46.2B Over 10 Years

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
USDCAD TECHS

Rally Fades, But Strong Weekly Gains

AUDUSD TECHS

Bears Threat Remains Present

US TSY OPTIONS

Late SOFR/Treasury Option Roundup

COMMODITIES

Weaker Dollar Lifts Major Prices With Gold Through Key Resistance

MNI EXCLUSIVE

St Louis Fed Director On Inflation, Growth

EURJPY TECHS

Needle Points North, Despite Friday Pullback

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

NEER Ticks Higher, Unemployment Rate At 7-Year Low

SGD
BulletEM BulletEmerging Markets NewsHomepage

The December unemployment rate printed at 2% in line with expectations, with the November revised a touch higher to 2.1%. This is the lowest unemployment rate since early 2016.

  • The SGD NEER (per Goldman Sachs estimates) is drifting higher post the unemployment rate print, albeit a touch off last week's high. We sit ~0.5% below the upper end of the band.
  • USD/SGD is dealing marginally firmer today, up ~0.1% today, last printing at $1.3130/40.
  • Technicals remain bearish for USD/SGD. We sit comfortably below the 20,50,100,200 EMAs. The next target for bears is the 2018 low at 1.3009, bulls first look to break 20-Day EMA at 1.3235 to halt the bear's momentum.
  • The Fed meeting on Wednesday is the next macro risk event, with the Bloomberg median survey expecting a 25bps rate hike. Further out, Jan S&P Global PMI and Dec Retail Sales on Friday provide the next local data of note.
147 words

To read the full story

Why Subscribe to

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.

The December unemployment rate printed at 2% in line with expectations, with the November revised a touch higher to 2.1%. This is the lowest unemployment rate since early 2016.

  • The SGD NEER (per Goldman Sachs estimates) is drifting higher post the unemployment rate print, albeit a touch off last week's high. We sit ~0.5% below the upper end of the band.
  • USD/SGD is dealing marginally firmer today, up ~0.1% today, last printing at $1.3130/40.
  • Technicals remain bearish for USD/SGD. We sit comfortably below the 20,50,100,200 EMAs. The next target for bears is the 2018 low at 1.3009, bulls first look to break 20-Day EMA at 1.3235 to halt the bear's momentum.
  • The Fed meeting on Wednesday is the next macro risk event, with the Bloomberg median survey expecting a 25bps rate hike. Further out, Jan S&P Global PMI and Dec Retail Sales on Friday provide the next local data of note.