USD/SGD Live News

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

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Mar. 3, 2021

Singapore Dollar moves to 1.3294 ahead of United States ADP Nonfarm Employment Change (Feb) today at 1:15 PM

Live - Updated 57 minutes ago.

The Singapore Dollar today at a glance – USD/SGD trading at 1.3294 with no clear-cut direction, ranging between 1.3307 and 1.3289. The United States ADP Nonfarm Employment Change (Feb) is next. (Trade Singapore Dollar with FXTM now).

USD/SGD technical analysis picture ahead of data: visual analysis of the Singapore Dollar's price graph shows USD/SGD nearest support level is at 1.3187. In terms of trend indicators, we can see that at 1.33, USD/SGD made an initial breakout above the 3 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that the upper Bollinger band is at 1.3346, indicating a downward move might be next.

Overall, the technical analysis suggests the Singapore Dollar is neutral for the immediate future, with no clear-cut direction.

As the market gets ready for data release – The NASDAQ is trading around 13,358.79 (down 230.04 points).

Earlier data released related to Singapore Dollar – United States API Weekly Crude Oil Stock came out at 7.36 million, above the estimate of -1.85 million. This is also a step forward from the previous data of 1.03 million.

Coming to USD/SGD – projections for United States Crude Oil Inventories are set for a continuation of decline with -928,000 while the previous data was 1.28 million, Data will be released today at 3:30 PM. Tomorrow at 1:30 PM, data for United States Initial Jobless Claims will be released, with an expected decline to 750,000 from the preceding figure of 730,000.

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Week to date

USD/SGD is parked around 1.3294 .

As the trading week gets on its way, The USD/SGD price varies between 1.3244 and 1.3339 and settles at 1.3294. (Trade Singapore Dollar with FXTM now).

While USD/SGD is pretty flat so far today, mixed performances are seen elsewhere as the Dollar/Yen hits 106.96, highest rate in 7 months. Gold fell to $1,708.4, hitting an 8 month low. At 1.5196, EUR/CAD is down to its lowest value in 8 months. GBP/CAD hit 1.7778, highest rate in 11 months. Crude oil made its largest single-week drop ($3.17) since October 2020