USD/SGD Live News

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Dec. 1, 2022

USD/SGD hits 1.3514, its lowest rate in 8 months

Live - Updated 24 minutes ago.

USD/SGD fell to a new low at 1.3514 today, its lowest value in 8 months; yesterday ended at 1.3604.

USD/SGD is currently trading at 1.3525 following the release of ISM Manufacturing PMI (Nov) data from the United States.

Highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 225,000.

Meanwhile, United States ISM Manufacturing PMI (Nov) released today at 15:00 UTC with a figure of 49, while the previous figure was 50.2. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. A crossing of the lower Bollinger Band® at 1.3564 suggests further losses may follow for USD/SGD.

Looking forward, USD/SGD is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other pairs as USD/JPY is down 285 pips from the beginning of the session and now trades around 135.23.

Positive performances can be seen by looking at other currencies as GBP/CAD is up 1.71%. Having closed the previous session at 1.2062, GBP/USD is up 1.58% today to currently trade at around 1.2253.

Some optimism can drawn from the fact that United States Non Farm Payrolls projected to decline to 200,000 while previous data was 261,000; data will be released tomorrow at 13:30 UTC.

Furthermore, United States Unemployment Rate figure is projected at 3.7. It previously stood at 3.7; data will be released tomorrow at 13:30 UTC.

USD/SGD is now trading 5.39% away from its significant high of 1.4379 first tested 2 months ago.

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Week to date

USD/SGD is trading around 1.3525, after closing the previous week at 1.3525 (down 0%) .

A good end to the trading week, USD/SGD is up to 1.3525, after closing yesterday at zero. Overall, a 0% move or 13,524 pips this week. (Start trading USD/SGD at FXTM today).

This move comes while some more positive signs for USD/SGD are out as Crude Oil Inventories in United States fell short of market expectations (-2.76 million) with a reading of -12.58 million, continuing the decline from the previous figure of -3.69 million.

On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 225,000. Data for United States Pending Home Sales published yesterday at 15:00 UTC came out at -4.6%, beating projections of -5% and showing improvement over the preceding figure of -8.7%.

Meanwhile, United States ISM Manufacturing PMI (Nov) came out at 49, while a consensus of analysts was expecting 49.8. United States Core PCE Price Index (MoM) (Oct) released today at 13:30 UTC with a figure of 0.2, while the previous figure was 0.5.

Outlook for rest of the week: Positive indicators for USD/SGD are expected going forward as United States Non Farm Payrolls expected to decline to 200,000 while its preceding data was 261,000, data will be available tomorrow at 13:30 UTC.

Furthermore, the market is looking at United States Unemployment Rate is expected tomorrow at 13:30 UTC. United States ISM Non-Manufacturing PMI (Nov) will be released Monday.