USD/SGD Live News

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

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Jan. 24, 2022

After four days of going down, USD/SGD is flat today, hovering around 1.3464.

Live - Updated 34 minutes ago.

After dipping down to 1.346, USD/SGD regains earlier losses and goes up to 1.3464.

Data for Singapore Consumer Price Index released today at 5:00 AM comes out at 4%, beating projections of 3.8% and showing improvement over the preceding figure of 3.8%. United States Services PMI fall short of the 55 projections, with 50.9 and continued its downward trajectory from previous figure of 57.6. United States Manufacturing PMI fall short of the 56.7 projections, with 55 and continued its downward trajectory from previous figure of 57.7.

In terms of trend indicators, we can see that at 1.3466, USD/SGD made an initial breakout above 10 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that USD/SGD's lower Bollinger band is at 1.3404, indicating further gains might be next. As the day reaches an end a chart visual study suggests the nearest resistance level is at 1.3607.

Overall, looking at the technical analysis landscape, it seems USD/SGD might continue pointing upwards in the short term.

A look at other markets also suggest some upside EUR/NZD traded above the 1.69 level for the first time in 5 months and a half.

At the same time, EUR/AUD broke through the 1.5851 resistance.

Other assets are showing mixed performances as USD/HKD trades with no major change, around 7.7863.

The market is looking forward to the release of new data: projections for United States Consumer Confidence are set for a continuation of decline with 111.8 while previous data was 115.8; data will be released tomorrow at 3:00 PM.

USD/SGD has lost 0.33% this year. The asset has been trading sideways for the past a month.

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Week to date

USD/SGD gains 38 pips to erase previous losses, trading higher at 1.3464 after 3 months low .

A good end to the trading week, after ending the previous week at 1.3448, USD/SGD went up to 1.3479 only to drop back to midpoint range and now trades at 1.3464. (Trade USD/SGD with FXTM now).

This move comes while some more positive signs for USD/SGD are out as United States Existing Home Sales fall short of the 6.44 million projections, with 6.18 million and continued its downward trajectory from previous figure of 6.48 million. United States Initial Jobless Claims fall short of the 220,000 projections, with 286,000 and continued its downward trajectory from previous figure of 231,000.

On the flip side, data for United States Crude Oil Inventories released Thursday comes out at 515,000, beating projections of -938,000 and showing improvement over the preceding figure of -4.55 million. Data for United States Philadelphia Fed Manufacturing Index (Jan) released Thursday comes out at 23.2, beating projections of 20 and showing improvement over the preceding figure of 15.4.

At the same time, Singapore Consumer Price Index beats expectations of 3.8% with new data release of 4%. This is also a step forward from the previous data of 3.8%.

Outlook for rest of the week: The market is looking forward to the release of new data: United States GDP is projected to outperform its last figure with 5.4, having previously been at 2.3. The figure will be published Thursday. United States Pending Home Sales is projected to outperform its last figure with 0.3%. It previously stood at -2.2%; data will be released Thursday. United States Initial Jobless Claims is projected to outperform its last figure with 255,000. It previously stood at 286,000; data will be released Thursday.