Trial now

VP Kirchner Highlights Fiscal Failures


July Trade Balance Data Due


Chilean Markets Closed For National Holiday

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Singapore dollar rose on Monday, USD/SGD dropping from Asia session highs of 1.3261 before dropping to 1.3576 at the start of the US session. The rate last trades up 5 pips at 1.3587. The pair has been on a downward trajectory since hitting highs around 1.37 last week. After jumping last week 1-month implied volatility has moved in a range and is sandwiched between the 50-DMA and 100-DMA, last at 3.99.

  • Bears will target a 23.6% retracement level at 1.3567, while bulls will still look to break the 2021 highs at 1.3693 and the Nov 4 2020 high at 1.3713.
  • Fig.1: USD/SGD

Source: MNI/Bloomberg

  • Data yesterday showed industrial production rose 27.5% in June against estimates of a 25.9% gain and compared to revised 27.0% in May, the M/M figure fell 3.0% against expectations of a 0.1% rise. The Y/Y print denotes the eighth straight month of growth, the figure was bolstered by strong exports, biomedical and electronics continue to be strong subcomponents. The advance Q2 GDP reading printed 14.3%, final Q2 GDP data will be released later in August and the industrial production figures do little to change expectations.
  • On the coronavirus front there were reports late on Monday that Singapore is planning to relax more virus restrictions including allowing quarantine-free travel in September