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Sitting On Support Level

SGD

The greenback continued its push higher on Monday, USD/SGD rose to highs of 1.3576, the highest since July 28. The pair last up 6 pips on the session at 1.3576. Support for the pair is seen close by at 1.3567 a 23.6% retracement level, resistance is seen at the 2021 high 1.3693

  • Singapore PM Lee said yesterday that the government will adjust its foreign worker policies to balance accepting overseas workers and the economic and social concerns of its citizens.
  • Singapore reported 72 coronavirus cases yesterday, below the key 100 threshold. The Ministry of Health has announced that 70% of its population is now fully vaccinated with the target of herd immunity drawing closer.
  • Markets await GDP data from Singapore tomorrow as a trigger, the final Q2 figure is expected to confirm growth of 14.3%.
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