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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
After bottoming out mid-Asia session at 1.3246 USD/SGD moved in a range for the remainder of Monday. The pair last at 1.3256.
- From a technical perspective the rate found resistance at a 76.4% retracement level at 1.32345 which is the first intraday support. Below this risks a slide to 1.3157. Resistance is seen at 1.3300, a 61.8% retracement level, above which the 100-day moving average at 1.3327 awaits.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
- Industrial production data yesterday was mixed, the M/M figure at -1.7% misses estimates of 3.3%, while the Y/Y figure at 7.6% beat estimates of 4.7%. The electronics sector drove the Y/Y increase, rising 33.7%, with semiconductors up 37.8%. The biggest drags were aerospace, petroleum and transport/engineering. Pharmaceuticals declined 9.6% after a 17.2% rise in February.
- Elsewhere, it was confirmed yesterday that a quarantine-free air travel bubble between Hong Kong and Singapore will begin on May 26, following setbacks that led to the plan initially being paused in November 2020.
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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