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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
After bottoming out in the European morning USD/SGD hugged a tight range through the rest of Tuesday, the rate last up 4 pips at 1.3300 vs intraday lows of 1.3286. Bulls need a convincing break below 1.3300, a 61.8% retracement level, to confirm the bearish impetus. Bulls look for a beak of 1.3344 and especially 1.3388 to confirm an uptrend. The rate has dropped out of its recent 50-DMA/100-DMA sandwich, the 100-DMA now acts as resistance at 1.3326.
- Fig.1: USD/SGD
Source: MNI/Bloomberg
- Coronavirus concerns continue to dominate headlines. The health ministry said late yesterday that virus measures could be tightened further if needed, adding that the vaccination efforts were constrained by low supply. The second inoculation has been delayed in order to allow more to receive the first jab; the interval is now 6-8 weeks and Singapore aims to give all adults the first dose by the end of August.
- Singapore final GDP could be released as early as today, the final Q1 figure is expected at 0.9% Y/Y.
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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