Free Trial
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
Singapore dollar weakened again on Tuesday, but managed to claw its way back from lows of the day. USD/SGD rose as high as 1.3693 before dropping, the pair last up 10 pips on the session at 1.3665. The pair is approaching resistance at 1.3276, a 38.2% retracement level, while support is seen at 1.3549 trend channel lower and 1.3509 a 23.6% retracement level.
- FIg.1: USD/SGD
Source: MNI/Bloomberg
- On the coronavirus front Singapore will tighten restrictions again from Thursday as new cases hit a record daily high. Restrictions will apply to dining, social gathering and indoor exercises and will be reviewed in two weeks. The government also announced it will announce another pandemic support package later this week, with FinMin Wong indicating it would be a similar size to the previous package of SGD 1.2bn. The tightening of restrictions and record daily case numbers of 182 just weeks after easing restrictions has cast doubt on the "reopening road map".
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok