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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
USD/SGD has reversed all of its move lower yesterday, the pair last up 40pips at 1.3319, just shy of yesterday's session high at 1.3332
- Markets look ahead to PMI data at 1300GMT/2100HKT, the headline index is expected to have risen to 50.8 in February, which would be the highest reading since March 2019.
- Some minor resistance at 1.3340, the 23.6% retracement of 2021 move from trough to peak. Strong resistance awaits at 1.3367, the 100-day moving average, above which the psychological figure of 1.34, which acted as a peak in February, awaits.
- Support is seen at 1.3270, the 50-day moving average, beneath which bears will face a challenge below 1.32 and then the 2021 low at 1.3165.
- 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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