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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 stronger in early trade, USD/SGD down 11 pips at 1.3415 retracing the gradual move higher on Monday. The rate has dipped below the 100-DMA at 1.3422 which acts as immediate resistance, above this the 50.0% retracement level at 1.3425 awaits. Support is seen at the 200-DMA at 1.3377, and then a 61.8% retracement level at 1.3362.
- Coronavirus concerns linger, there were 235 new local cases yesterday, this has led to officials announcing an extension of current virus curbs for the time being, delaying plans to ease restrictions, citing the recent rise in cases and a need to monitor the situation to ensure serious illnesses don't rise to a level that would threaten the health care system. Additional restrictions could be on the cards, FinMin Wong said yesterday "We will attempt to do so without going back to another heightened alert. These are last-resort measures and we will try our best to refrain from using them, but we should not rule them out entirely." The government plans to boost testing and offer vaccine boosters to over 60's in order to contain the virus.
- 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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