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NEER Within Recent Ranges, Docket Light This Week

SGD

The SGD NEER (per Goldman Sachs estimates) is marginally firmer this morning, the measure sits well within recent ranges. We sit ~0.4% below the top of the band.

  • USD/SGD sits a touch above the $1.36 handle, ranges have been narrow in recent dealing as the pair struggles to follow through on moves as $1.36 is proving sticky.
  • Bulls have broken the 200-Day EMA ($1.3548) and now target a break of the 20-Day EMA ($1.3627) to re-establish the uptrend. Bears target the $1.34 handle which opens the low from July 14 at $1.3174.
  • Friday's October Non-Oil and Electronic Exports are the only releases of note this week.

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