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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 slightly stronger in early trade as the greenback softens, USD/SGD last down 15 pips at 1.3351, retracing some of yesterday's moves higher. Markets await retail sales data at 0600BST/1300HKT, the headline figures is expected at 7.1% Y/Y from 5.2% last time out.
- Data earlier in the session showed Markit Singapore PMI fall to 51.8 in April from 53.5 in March. Commenting on the release Jingyi Pan, Economics Associate Director at IHS Markit, said: "April PMI data suggested that Singapore's private sector economy continued on its path of recovery from the severe downturn seen during the depths of the pandemic in 2020. The early second quarter data did, however, see the rate of expansion moderating with renewed COVID-19 concerns, particularly as new overseas infections rose, affecting demand from abroad."
- The pair peaked at 1.3388 yesterday, a 38.2% retracement level, and currently hovers just above support at 1.3344, a 50.0% retracement level.
- 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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