#usd/sgd

The post Singapore Dollar: Upside risk stays contained against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang notes USD/SGD closed almost unchanged near 1.2924, but short-term momentum has turned slightly lower. Leang expects intraday price action to stay within 1.2900–1.2935, while over the coming weeks the risk of a break below 1.2890 is increasing, with another firm support at 1.2875 and strong resistance at 1.2955 capping the topside. Downward bias with range constraints “24-HOUR VIEW: Yesterday, we indicated that USD “is likely to trade in a range between 1.2900 and 1.2935.” While USD traded within a higher range than expected (1.2913/1.2938), it closed largely unchanged at 1.2924 (+0.04%). While there has been a slight increase in downward momentum, this is likely to lead to USD trading in a lower range of 1.2900/1.2935 rather than a sustained decline.” “1-3 WEEKS VIEW: We have expected USD to trade in a range since early last wee

The post Singapore Dollar: Range consolidation holds against US Dollar – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Charlie Lay highlights that USD/SGD has been stable around 1.2920, with SGD NEER estimated at roughly +0.8% above its mid-point. The pair has traded within a 1.29–1.30 range for a month and Lay expects near-term consolidation. The +/-2% NEER band implies a broader USD/SGD range between 1.2780 and 1.3300. SGD NEER stays moderately elevated “In FX, USD/SGD was stable yesterday at around 1.2920. It has held within the 1.29-1.30 range for the past month, and we look for consolidation in the near term. On a SGD NEER basis, we estimate it is around +0.8% above the mid-point for USD/SGD at 1.2920, USD/MYR at 4.0850, and USD/CNY at 6.7940. The +/-2% band around the mid-point corresponds to USD/SGD between 1.2780-1.3300, with the mid-point at 1.3040, ceteris paribus.” “May retail sales rose 3% yoy (Bloomberg consensus: 4.7%) vs 5.4% previously. On a 3-month mov