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0 USD/SGD could continue to rally, based on technical charts, says Quek Ser Leang, markets strategist of UOB’s Global Economics & Markets Research, in a research report. The currency pair has risen recently, taking less than two weeks instead of two months to drift higher 1.3500 and 1.3550, the strategist notes. In terms of resistance, the March high near 1.3575 will probably be breached, while 1.3640 and 1.3860 levels are to be checked the strategist says. On the downside, USD/SGD’s 21-day exponential moving average, which is currently at 1.3420, is strong support, the strategist adds. USD/SGD is down 0.2% at 1.3516.
Singapore CPI has been rising and CORE Inflation double the price stability aim
Singapore GDP Figures have in fact shrunk consistently in Q1, bringing to markets the possibility of economic recession
Also overnight Singapore Industrial Production figures record a large decline in industrial output
