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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 is weaker in early trade, USD/SGD rising to 1.3344 up around 21 pips on the session as the greenback bounces. The rate hovers at a 50.0% retracement level, bulls look for a break of 1.3388 which has seen a double top in May, while bears will target the 100-day moving average at 1.3325 before the psychological 1.3300.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
- Data earlier in the session showed Singapore's April non-oil exports rose 6% Y/Y against estimates of 11.5%, while electronics exports rose 10.9% after gaining 24.4% in March.
- On the coronavirus front Singapore has announced tighter restrictions from May 16 to June 13 including limiting gatherings to a maximum of two people and closing most in-school classes this week and make the switch to home-based learning due to a jump in cases. There were 38 new cases reported on Sunday, the highest in over a year.
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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