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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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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Sticking To Range
Spot USD/SGD gained overnight as the greenback moved higher, snapping its run of declines this week, the move higher was led by the greenback extended gains after the release of the latest FOMC meeting minutes. The pair last trades down 7 pips at 1.3406.
- The rate remains sandwiched between its 50-day moving average at 1.3363 and the 200-day moving average at 1.3505. Support is seen at 1.3388, a 38.2% retracement of the 2021 move from low to high, the level has held since early March despite several challenges.
- Markets await GDP data on Wednesday next week (April 14); data earlier this week saw February retail sales miss estimates, while PMI also slipped to 50.8 from 50.9. In the PMI data sentiment dipped to a four-month low as uncertainty surrounding the longer-term impact of COVID-19 weighed on the outlook. As a result, input inventories fell while new orders were also lower. Still, output was in expansion for the fourth month in a row while construction activity returned to growth, and was the strongest-performing area in March.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
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Why MNI
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