USD/SGD Live News

This page provides live coverage and news analysis on the USD/SGD currency pair

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Nov. 27, 2020

Singapore Dollar hits 1.3371, its lowest rate in 2 years

(23:39) GMT

After starting the day at 1.3386, USD/SGD dropped to 1.3371, reaching its lowest point in 2 years.

The USD/SGD nearest support level is too vague to call at the moment, resistance level is at 1.367. The Relative Strength Index indicates the Singapore Dollar is in oversold condition, allowing more gains. The lower Bollinger band is at 1.3342, indicating a positive move might be next. Overall, looking at all the technical indicators, it seems USD/SGD is neutral for the immediate future, with no clear-cut direction.

Meanwhile, mixed performances are seen elsewhere as the Kiwi is trading around 0.7027 (up 21 pips). USD/ZAR went up from 15.1905 to 15.2533 (0.41%, 62 pips). USD/MXN gained 0.17% from 20.0042 to 20.038 (33 pips). The Canadian dollar is getting closer and is now only zero pips from the support line at 1.3006. Dipping below it might indicate further losses are ahead.

Nov. 26, 2020

USD/SGD hits 1.3379, its lowest rate in 2 years

(22:39) GMT

After starting the day at 1.34, USD/SGD dropped to 1.3379, reaching its lowest point in 2 years.

This downslide might be related to financial indicators data published earlier as United States Crude Oil Inventories published on Wednesday at 3:30 PM came out at -0.754, falling short of the 0.127 projections and continuing its decline from the previous 0.768 figure. United States Initial Jobless Claims fell short of the 730 projections, at 778 and continued its downward trajectory from the previous figure of 748. Data for United States New Home Sales released Wednesday at 3:00 PM is better than expected with 999, but worse than the previous figure of 1002.

The Singapore Dollar's nearest support level is too vague to call at the moment, resistance level is at 1.3525. The Relative Strength Index indicates the Singapore Dollar is in oversold condition, allowing more gains. The lower Bollinger band at 1.3334, indicating a positive correction might be next. Overall, looking at all the technical indicators, it seems USD/SGD is neutral for the immediate future, with no clear-cut direction.

Positive performance can be seen looking at other symbols as crude drops to 45 (71 cents). The Canadian Dollar is green with a 0.13% gain (17 pips), to 1.3017 levels. USD/ZAR is green with a 0.5% gain (75 pips), to 15.2 levels. USD/MXN gained 0.29% (57 pips), reaching 20.0044 levels.

Nov. 25, 2020

Singapore Dollar down to 1.3389, the last time it was this low was 2 years

(22:39) GMT

After starting the day at 1.3417, USD/SGD dropped to 1.3389, hitting its lowest point in 2 years.

This downslide might be related to financial indicators data published earlier as United States Crude Oil Inventories fell short of the 0.127 projections, to -0.754 and continued its downward trajectory from the previous figure of 0.768. United States Initial Jobless Claims fell short of the 730 projections, at 778 and continued its downward trajectory from the previous figure of 748. United States New Home Sales released today at 3:00 PM is better than expected at 999 but down from preceding data of 1002 according to new data.

The Singapore Dollar's nearest support level is too vague to call at the moment, resistance level is at 1.3525. The Relative Strength Index indicates the Singapore Dollar is in oversold condition, allowing more gains. The lower Bollinger band at 1.3332, indicating a positive correction might be next. Overall, looking at all the technical indicators, it seems USD/SGD is neutral for the immediate future, with no clear-cut direction.

Taking a wider perspective, performance of these other symbols usually suggests a setback for the Singapore Dollar as oil is trading around 45.86 after starting the session at 44.91 (down 2.12%). The Kiwi is trading around 0.701 (up 34 pips). USD/ZAR lost 64 pips from the start of the session, trading at 15.1272 levels. USD/MXN dropped -0.26% (52 pips) to 19.9506.

Nov. 24, 2020

Singapore Dollar hits 1.3412, its lowest rate in 2 years

(22:39) GMT

After starting the day at 1.3437, USD/SGD dropped to 1.3412, reaching its lowest point in 2 years.

This downslide might be related to financial indicators data published earlier as United States Consumer Confidence published today at 3:00 PM came out at 96.1, falling short of the 98 projections and continuing its decline from the previous 101.4 figure.

Meanwhile, Singapore Consumer Price Index was released on Monday at 5:00 AM with a figure of -0.2, while the previous figure was zero. Data for United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) released today at 2:00 PM comes out at 6.6, beating projections of 5.1 and showing improvement over the preceding figure of 5.3.

The USD/SGD nearest support level is too vague to call at the moment, resistance level is at 1.3525. The Relative Strength Index has gone up above 30 – exiting oversold conditions and indicating a slowdown of gains. The upper Bollinger band is at 1.3662 and the lower is 1.3335. Overall, looking at all the technical indicators, it seems the Singapore Dollar might reverse course and start pointing upward in the short term.

Taking a wider perspective, performance of these other symbols usually suggests a setback for the Singapore Dollar as the Canadian Dollar lost 83 pips from the start of the session, trading at 1.2997 levels. Crude is trading around 44.81 (up 1.75 dollars). USD/ZAR dropped -1.3% (201 pips) to 15.2054. The Kiwi is trading around 0.6977 after starting the session at 0.6924 (down 0.77%).

The market will be looking forward to the upcoming release of the following indicators: United States Crude Oil Inventories are expected to decline to -0.333 when its preceding data was 0.768, Data will be available tomorrow at 3:30 PM. United States Initial Jobless Claims projected to outperform last figure with 730 while it previously stood at 742, data will be released tomorrow at 1:30 PM. United States New Home Sales is projected to outperform last figure with 970, while it previously stood at 959, figure will be published tomorrow at 3:00 PM. The United States GDP is projected to outperform the last figure with 33.2, while it previously stood at 33.1, figure will be published tomorrow at 1:30 PM.

Nov. 23, 2020

At 1.34 Singapore Dollar down to its lowest value in 2 years

(22:39) GMT

After opening at 1.3434, USD/SGD dropped to its lowest point in 2 years at 1.34. It later recovered 46 pips and is now trading at 1.3448.

Meanwhile, Singapore Consumer Price Index was released today at 5:00 AM with a figure of -0.2, while the previous figure was zero. Data for the United States Manufacturing PMI released today at 2:45 PM came out at 56.7, beating projections of 53 and showing improvement over the preceding figure of 53.4. Data for the United States Services PMI released today at 2:45 PM came out at 57.7, beating projections of 55 and showing improvement over the preceding figure of 56.9.

At 1.3435, Singapore Dollar made an initial breakout above the 5 day Simple Moving Average. The nearest resistance level is at 1.3525, followed by 1.367 at the next level.

A look at other markets shows behavior that usually indicates a green move for the Singapore Dollar, as USD/MXN went up from 20.0937 to 20.1416 (0.24%, 47 pips). The Kiwi drops to 0.6924 (10 pips).

At the same time, crude is trading around 42.84 (up 42 cents).

In the meantime, Canadian dollar trades around 1.3081, with no major change.

The market is looking forward to United States Consumer Confidence expected to decline to 98 when its preceding data was 100.9, Data will be available tomorrow at 3:00 PM. The United States's new S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) data will be available tomorrow at 2:00 PM. Data is expected to decline to five from its previous value of 5.2. United States FOMC Member Bullard's speech is scheduled tomorrow at 4:00 PM. United States FOMC Member Williams' speech is scheduled for tomorrow at 5:00 PM.