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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.
SGD
Singapore dollar finished the day weaker on Monday, pressured by a higher greenback, gains were muted though and USD/SGD finished the session 9 pips higher. Last down 2 pips at 1.3429. Bulls will look for a break of a 23.6% retracement level at 1.3443 before targeting the 2021 high at 1.3531. Support is seen at a 38.2% retracement level at 1.3388 which intercepts with the 200-DMA.
- On the coronavirus front new cases have dropped, four new cases were found in the past 24 hours which denotes the lowest since June 11. The vaccination drive is accelerating which officials have said is helping contain the number of cases. In a social media post Senior Minister Teo Chee Hean said ""We hope to have 2/3 of our residents fully vaccinated by early August, with everyone eligible able to book a slot by then". Meanwhile Singapore extended temporary relief measures for property developers affected by disruptions to project timelines, a six-month extension will be implemented with immediate effect.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
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.
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